Financial Services Corporation Introduces New Funding for Venture Capital in the Financial Technology Sector during the Industry Conference 2023
Saudi Arabia's Fintech Sector Soars with SVC's New VC Fund
The Saudi Venture Capital Company (SVC) has launched a new product called the Investment in Fintech VC Funds, marking a significant step forward in the growth of the fintech industry in Saudi Arabia. This initiative, launched in partnership with the Capital Market Authority (CMA) and the Financial Sector Development Program (FSDP), has had a positive impact on the country's venture capital activity, particularly in fintech.
By the first half of 2025, Saudi Arabia's venture capital ecosystem secured a record $860 million total VC investment. Fintech was the most active sector, accounting for 26% of all VC deals, with 30 transactions, and a total VC deployment of approximately $306 million (SAR 1.1 billion) in fintech alone during H1 2025. This surge in fintech funding is a testament to the effective mobilization of funds and strong investor interest in fintech startups nurtured by initiatives like the SVC’s fund.
Established in 2018, the SVC plays a key role in the country's venture capital ecosystem by investing in private capital funds including venture capital, and directly in startups at various growth stages. The collaboration with CMA and FSDP further aligns with Saudi Vision 2030 goals, emphasizing entrepreneurship and innovation in the financial sector.
The fintech industry in Saudi Arabia has been experiencing rapid growth, with over 147 operating fintechs as of last year. Notable fintech startups supported by SVC include Tamara, a buy now, pay later (BNPL) platform, and Raqamyah, a digital lending platform for SMEs.
The Financial Sector Conference 2023, where the new product was announced, was held on March 15 and 16. This annual event brings together leaders and experts from the financial industry in Saudi Arabia and the wider MENA region, providing a platform for discussing the latest trends and developments in the financial sector, as well as exploring new investment opportunities and partnerships.
With the support of SVC, CMA, and FSDP, Saudi Arabia's fintech startups are well-positioned to continue innovating and expanding their offerings. The launch of SVC's new product is expected to further accelerate the growth of the fintech industry in Saudi Arabia, attracting more investors to the country's startup ecosystem.
[1] Source: Saudi Venture Capital Company (SVC) press release, March 15, 2023. [3] Source: MAGNIT, MENA Venture Capital Report, Q2 2023.
The new Investment in Fintech VC Funds launched by the Saudi Venture Capital Company (SVC) demonstrates a significant focus on financially bolstering Saudi Arabia's fintech sector. With the first half of 2025 securing a record $860 million total VC investment, fintech accounted for 26% of all VC deals, showcasing a surge in fintech funding due to the effective mobilization of funds and strong investor interest in fintech startups.
