#banking

How Saudi finance got an app layer

In 2017, Saudi retail payments were roughly 70% cash. By 2024, cash had dropped to under 20%. mada became the backbone, STC Pay became the first Saudi fintech unicorn, Tabby and Tamara built BNPL into a category, and SAMA’s sandbox processed more than 100 firms through to licensing.

$1.72B· MENA's #1 venture market — Saudi startups, Saudi capital