Riyadh - Sharikat Mubasher: The fintech industry in Saudi Arabia is expected to witness an increase in acquisitions and exit activities within the upcoming period, according to a recent report released by Fintech Saudi.
The report clarified that the anticipated increase will triggered by four reasons, notably the robust and stable regulatory environment created by the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA) to foster the Saudi fintech sector.
The advancement of Saudi fintech companies is another reason behind the expected increase in acquisition and exit activities as the companies are becoming attractive acquisition targets or getting ready to make acquisitions.
The third reason is the availability of capital as Nomu, venture capital, sovereign funds, and well-capitalized companies offer more liquidity options than before for fintech founders who are looking for an exit or fintech companies seeking to raise capital to make acquisitions.
Moreover, the Kingdom became increasingly attractive for business thanks to the government policies that allure foreign investment and the development of special economic zones and ambitious giga projects.
These macroeconomic factors support the attractiveness of the Saudi fintech industry for both global groups seeking to acquire Saudi fintech companies and investors supporting the capitalization of Saudi fintech companies to make acquisitions.
