Saudi Arabia Dominates MENA Fintech Valuation with 11 Champions

A study conducted by Agrippa and Company, a strategic advisory firm based in Paris, has identified Saudi Arabia as a significant leader in the Middle East and North Africa's (MENA) fintech sector. The research reveals that out of the 20 most valuable fintech companies in the MENA region, 11 are headquartered in Saudi Arabia.

These 11 Saudi-based fintech firms collectively hold a valuation of US$13.79 billion. This figure represents 78.4% of the total valuation of the top 20 fintech companies across MENA, according to the study.

The identified fintech champions in Saudi Arabia include Tabby, a buy now, pay later (BNPL) company, and Rasan, an insurtech and fintech holding company. STC Bank, a fully licensed digital bank that originated from stc pay, is also among them, alongside Tamara, another BNPL services provider.

The list further comprises Hala, an all-in-one business platform for SMEs; Geidea, a provider of payment and business solutions; Foodics, a restaurant operations and paytech company; and Lean Technologies, a financial infrastructure provider. Completing the group are Tap Payments and HyperPay, both online payment service providers, and PayTabs, which offers B2B payment infrastructure.

The concentration of high-value fintech companies in Saudi Arabia underscores the country's growing influence and success in attracting and developing top-tier fintech talent across the region. This positions Saudi Arabia as a key player in shaping the MENA fintech landscape, with Egypt being the second most represented jurisdiction.

Fintech has emerged as the fastest-growing and most favoured startup category among investors in MENA. According to Magnitt, funding for the sector reached US$1.14 billion in 2025 through 178 transactions, accounting for 30% of all startup funding and 26% of deals in the region.

The momentum in the fintech sector has continued into 2026, with Saudi Arabia leading the way; fintech accounted for 67% of all startup funding in the country during the first half of the year. This indicates sustained investor interest and growth within the sector.

Recent funding rounds across MENA include Naran, a UAE-headquartered mobility fintech, which secured US$10 million in equity and debt financing. Additionally, Tax Star, a UAE tax software company, raised US$1.75 million in seed funding, and Bahraini insurtech startup Soor received an undisclosed pre-seed investment to develop its platform and expand partnerships.