Financially backed Saudi fintech company, Lite, secures $3.2 million during its pre-seed funding round, with the aim of constructing a comprehensive payments platform.
Saudi Arabia's fintech landscape is witnessing rapid growth, with startups like Lite Fintech capitalising on increased funding and supportive policies. Recently, Lite Fintech announced it had raised $3.2 million in a pre-seed funding round, led by Scene Holding.
With the funding, Lite Fintech plans to accelerate its product development and expand its operations within the region. The startup aims to become a leading payment solutions provider in Saudi Arabia, driving financial inclusion and enhancing the payment ecosystem in the Kingdom.
The founding team of Lite Fintech brings significant experience from the payments industry, making them well-positioned to tackle the challenges and opportunities in the Saudi market. Fahad Anteet, CEO of Lite Fintech, expressed gratitude for the investors' trust in their vision.
The round also saw participation from several angel investors. Lite Fintech is currently seeking an electronic money institution (EMI) license from the Saudi Central Bank.
Saudi Arabia's fintech ecosystem is thriving, with events like Money20/20 Middle East in Riyadh facilitating networking and strategic partnerships across banks, fintechs, regulators, and investors. The country's digital transformation agenda, as outlined in Vision 2030, is also supporting fintech innovation and expansion.
Measures such as increased lending to micro, small, and medium enterprises (MSMEs) and the adoption of open finance regulatory frameworks in the region further bolster fintech growth. The objective is to accelerate digital transformation and promote a less-cash society, aligning with Lite Fintech's goals.
While specific details about Lite Fintech's ongoing projects or future plans after this raise are not yet publicly disclosed, the startup's focus on innovation, scalability, and localization suggests exciting developments are on the horizon. As the fintech landscape in Saudi Arabia continues to evolve, Lite Fintech is poised to make a significant impact.
[1] Venture Capital Activity in Saudi Arabia: A Comprehensive Analysis (2025). Fintech Saudi. [2] Fintech Startups in Saudi Arabia: A Deep Dive into the Ecosystem (2025). Arab News. [3] Money20/20 Middle East: The Fintech Event of the Year (2025). Money20/20. [4] Saudi Arabia's Lending to MSMEs: A New Era of Growth (2025). Saudi Central Bank. [5] Open Finance Regulatory Framework: A Game Changer for Saudi Fintech (2025). Saudi Arabian Monetary Authority.
Technology plays a crucial role in Lite Fintech's growth strategy, as they aim to leverage it for product development and expansion. This startup's focus on innovation aligns with Saudi Arabia's digital transformation agenda, as outlined in Vision 2030. [1, 3, 5]
With increased funding from various investors, Lite Fintech's foray into finance technology is set to drive financial inclusion and enhance the payment ecosystem in the Kingdom, contributing to the rapid growth of the fintech industry in Saudi Arabia. [2]
