Saleh ALhammad

Charting Saudi Arabia’s Rise as a Global Hub for SMEs Saudi Arabia is emerging as a global leader in fostering small and medium enterprises (SMEs), driven by its strategic vision to diversify the economy and empower innovation. The Kingdom's ambitious initiatives are yielding significant results, positioning it as a vibrant entrepreneurial ecosystem and a magnet for international investors and startups. Earlier this year, Saudi Arabia ranked third globally in the 2023-2024 Global Entrepreneurship Monitor report, with its National Entrepreneurship Context Index score rising from 5.0 in 2019 to 6.3 in 2023. This progress reflects the Kingdom’s commitment to creating a supportive business environment. Key drivers of this transformation include: - Vision 2030 and the National Investment Strategy (NIS): These initiatives aim to increase the private sector's GDP contribution to 65% and Foreign Direct Investment (FDI) to 5.7% by 2030. - Special Economic Zones (SEZs): Competitive regulations and incentives, exemplified by King Abdullah Economic City (KAEC), are attracting investments in priority sectors. - Innovative Financing Solutions: These are boosting private sector growth and promoting capital formation. Saudi Arabia’s youthful population, with 63% under the age of 30, adds to its advantage. It is a diverse talent pool that nurtures global changemakers and entrepreneurs. Monsha'at: Pioneering Entrepreneurship Monsha’at, the Small and Medium Enterprises General Authority, plays a pivotal role in driving SME growth. Highlights include: - Launching incubators and accelerators to support startups at every stage. - Building international relationships through participation in events like Franchise Expo Paris, Web Summit 2023, and ComeUp Korea 2023. - Strengthening diplomatic and business ties with countries like France, South Korea, and Portugal. Monsha’at has also made remarkable strides in franchising, with over 380 national franchises and more than 1,000 registered trademarks. A Framework for Global Success By collaborating with private and government sectors, Monsha’at offers essential services, including financial support, consultation, and access to industry networks. These efforts not only enhance SME productivity but also contribute to sustainable economic growth. Saudi Arabia’s transformation into a global hub for SMEs is a testament to the power of strategic vision and innovation. With initiatives like Vision 2030 and the unwavering support of entities like Monsha’at, the Kingdom is charting a promising path for entrepreneurs worldwide. #Startups #Entrepreneurship #SaudiArabia #Vision2030 #SMEs #Innovation https://lnkd.in/dfjbQKEZ

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Excited to attend the Summit! Looking forward to insightful discussions on digital innovation and how we can continue to drive innovation in the financial sector. #FutureBanks #DigitalBanking #Innovation #Saudi

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🌿 In 2024, geidea, a leading Saudi fintech recognized for its innovative #payment solutions, joined forces with Fils , a pioneering climate-positive platform, to embed sustainability into digital transactions across the #UAE. This collaboration underscores a shared commitment to environmental consciousness and carbon neutrality. 𝗠𝗮𝗷𝗼𝗿 𝗢𝘂𝘁𝗰𝗼𝗺𝗲𝘀 𝗼𝗳 𝘁𝗵𝗲 𝗣𝗮𝗿𝘁𝗻𝗲𝗿𝘀𝗵𝗶𝗽: 🌱 𝗖𝗮𝗿𝗯𝗼𝗻 𝗘𝗺𝗶𝘀𝘀𝗶𝗼𝗻 𝗘𝘀𝘁𝗶𝗺𝗮𝘁𝗲𝘀: Merchants can provide customers with insights into the carbon footprint of their transactions, promoting informed and eco-friendly choices. 💚 𝗦𝗲𝗮𝗺𝗹𝗲𝘀𝘀 𝗜𝗻𝘁𝗲𝗴𝗿𝗮𝘁𝗶𝗼𝗻: Utilizing Fils' API, businesses can effortlessly incorporate climate-positive features into their payment processes. 🌍 𝗦𝘂𝗽𝗽𝗼𝗿𝘁 𝗳𝗼𝗿 𝗖𝗮𝗿𝗯𝗼𝗻 𝗖𝗿𝗲𝗱𝗶𝘁 𝗣𝗿𝗼𝗷𝗲𝗰𝘁𝘀: Customers have the opportunity to contribute directly to carbon offset initiatives, fostering a greener future. 🤝 𝗔𝗹𝗶𝗴𝗻𝗺𝗲𝗻𝘁 𝘄𝗶𝘁𝗵 𝗖𝗢𝗣𝟮𝟴 𝗚𝗼𝗮𝗹𝘀: From being the official payment and POS provider for COP28, Geidea continues its dedication to sustainability through this partnership. 📈 𝗔𝗱𝘃𝗮𝗻𝗰𝗶𝗻𝗴 𝘁𝗵𝗲 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲: This alliance aims to reshape the industry by prioritizing environmental responsibility alongside technological advancement. 💡𝗔𝗯𝗼𝘂𝘁 𝗚𝗲𝗶𝗱𝗲𝗮: 💳 𝗟𝗲𝗮𝗱𝗶𝗻𝗴 𝗙𝗶𝗻𝘁𝗲𝗰𝗵 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗼𝗿: Geidea offers advanced #electronic payment systems and financial technologies, serving sectors such as banking, retail, hospitality, and healthcare. 🌐 𝗖𝗼𝗺𝗽𝗿𝗲𝗵𝗲𝗻𝘀𝗶𝘃𝗲 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻𝘀: The company provides secure and effective payment services, including software development and after-sales support, empowering clients to manage and grow their businesses efficiently. 🏆 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆 𝗥𝗲𝗰𝗼𝗴𝗻𝗶𝘁𝗶𝗼𝗻: Acknowledged among the top 25 fintech companies by Forbes Middle East, Geidea is committed to driving innovation and sustainability in the financial sector. Together, Geidea and Fils are setting a new standard in the digital payments industry, where every transaction contributes to a sustainable and environmentally conscious future. #GeideaXFils #GreenFintech #FutureOfPayments #COP28Goals #SustainableSolutions #climatechange #greeneconomy Nameer Khan | Sailesh Malhotra | geidea | Ahson Saeed | Arshad Khan | Gaurav Dhar | Akshay Wason | Usman Sarwar | Bismah Shehzad | malaika khan | Humail Ali | Ghada Karim

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The annual fintech report provides an in depth review of the fintech sector in Saudi Arabia. Saudi Arabia’s fintech strategy focuses on fostering innovation, enhancing financial accessibility, and promoting economic diversification under Vision 2030. The strategy prioritizes digital payments, open banking, blockchain, and AI-driven financial services. Key initiatives include regulatory support from the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA), the launch of a regulatory framework, and substantial government backed funding programs. The ecosystem has expanded with numerous fintech startups and significant private and public investment. This growth has accelerated financial inclusion and transformed the Kingdom’s financial services landscape. https://lnkd.in/dwKiM9uS #venturecapital #saudiarabia #investment #innovation #entrepreneurship #fintech #ecommerce #vision2030 #globalInvesting #mena

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Jeel and audax a fintech venture by SC Ventures by Standard Chartered join forces to revolutionize banking in Saudi Arabia. Their partnership aims to modernize legacy systems, enabling digital banks and super apps. This collaboration could reshape the financial landscape of a $1.1 trillion economy. #DigitalBanking #FinTech #SaudiArabia #BankingInnovation #TechTransformation What innovative banking solutions do you think will emerge from this partnership?

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Saudi Arabia’s fintech sector driving digital transformation Thrilled to share key insights from Arthur D. Little's report on the burgeoning #Fintech sector in Saudi Arabia. Titled "Realizing Potential of Fintech in Kingdom of Saudi Arabia," the study underscores the rapid strides the Kingdom has made towards becoming a regional financial hub. Spearheaded by initiatives like Fintech Saudi, launched by the Saudi Central Bank (SAMA) and the Saudi Capital Markets Authority in April 2018, the report celebrates the significant growth and innovation within the sector. These efforts have positioned Saudi Arabia as a leading fintech hub in the Middle East and North Africa, driving forward its vision for the future. #FintechGrowth #SaudiVision2030 By Nour Edin El Shaeri Repost by Salem Bagami

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Saudi Arabia’s 24 Fintech conference kicks off in Riyadh, highlighting sector’s rapid growth and ambitious future The 24Fintech Conference serves as a platform for startups, academics, and industry leaders to collaborate on shaping the future of the industry Saudi Fintech Milestone: $1.84B in Investments Since 2018 The 24Fintech Conference kicked off today in Riyadh, spotlighting Saudi Arabia’s booming fintech landscape. Since 2018, the sector has attracted $1.84 billion in venture capital, supporting 216 startups and creating over 6,500 jobs. Governor Al-Sayari of the Saudi Central Bank emphasized that fintech growth, fueled by Vision 2030 and technological innovation, has enhanced financial access, efficiency, and system stability. The event gathers global leaders to discuss Saudi’s transformative fintech journey. Original post by Nadin Hassan Repost by : Dr. Salem Bagami Chief Executive Officer Digital Transformation Company & Managing Director 2080 Ventures Email: [email protected] Website: www.2080.ventures - #Fintech #SaudiArabia #Innovation #Vision2030 #24Fintech

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Empowering SMEs: Unlocking Growth with Fintech and PO Financing This report provides a detailed overview of the critical role that Small and Medium Enterprises (SMEs) play in the economic framework of the Kingdom of Saudi Arabia (KSA). SMEs play a vital role in KSA's economic growth and job creation. As an essential part of the Vision 2030 initiative, they are recognized for their significant contributions to the country's development and sustainability. As the market size of SMEs in KSA continues to grow, particularly in key regions like Riyadh and Makkah, the role of fintech in supporting their survival and growth becomes more critical. 🔵 There are nearly 1.27 million SMEs operating in KSA, and the government's commitment to empowering these businesses ensures a more inclusive and prosperous society, paving the way for a diversified and sustainable economy. SMEs constitute a remarkable 99.5% of all companies in the country, with a significant portion classified as micro-sized enterprises. 🔵 The KSA government recognizes the importance of SMEs in achieving its Vision 2030 goals, which aim to diversify the economy and reduce dependence on oil. 🔵 The initiative sets ambitious targets for the SME sector, including increasing its contribution to the national GDP to 35% by 2030; reducing the unemployment rate from 11.6% to 7%, and increasing women's participation in the workforce to 30% 🔵 SMEs often face challenges in accessing traditional financing options. 🔵 The report also emphasizes on the transformative potential of fintech solutions, particularly crowd investing in purchase orders (PO). 🔵 The crowd investing market in KSA is projected to grow steadily, reaching SAR 309.9 million by 2027.  

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The H1 2024 Saudi Arabia Venture Investment Repor Were you aware that Saudi Arabia secured the largest portion of the capital deployed in the MENA region again in H1 2024? Download our H1 2024 Saudi Arabia Venture Investment Report sponsored by SVC to uncover valuable insights about the Kingdom’s performance in the venture capital landscape in H1 2024. Overview The H1 2024 Saudi Arabia Venture Investment Report, sponsored by SVC, underscores Saudi Arabia's leading role in the MENA VC landscape and its continued appeal to both local and international investors How did the Saudi VC space perform in H1 2024? In H1 2024, Saudi Arabia reaffirmed its position as the leader in Venture Capital funding across the Middle East and North Africa. Despite a slight 7% year-on-year decline, Saudi Arabia’s VC ecosystem aggregated an impressive $412M in funding. Notably, 32% of this funding came from a significant $130M deal in Salla, marking the only MEGA round in the MENA region for 2024 so far. Deal flow activity in Saudi Arabia remained relatively stable, with only a 3% YoY reduction in H1 2024, solidifying its status as the second most active MENA country in terms of transactions. The country's contribution to the MENA region's total funding surged from 38% in H1 2023 to 54% in H1 2024, with Saudi Arabia accounting for 30% of total deals, up from 25% in the same period last year. This growth highlights Saudi Arabia's resilience, as the overall MENA region experienced a more pronounced 34% YoY decline in aggregated funding. The gap between Saudi Arabia and the UAE, the second-ranked country by funding, widened from $166M in H1 2023 to $187M in H1 2024. At the level of deals, the UAE had 20 more transactions than Saudi Arabia in H1 2024, this gap in deal flow activity increased from just 10 transactions in H1 2023. https://lnkd.in/ecDhc-KY Report by MAGNiTT Report by Salem Bagami Chief Executive Officer Digital Transformation Company & Managing Director 2080 Ventures Email: [email protected] Website: www.2080.ventures - #Sovereignwealthfund #SaudiArabia #Investment #Opportunities #privatequity #wealthmanagment #PIF #Familyoffices #assetsmanagment #Riyadh #Saudivision2030 #growth #fundmanger #hedgefunds

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Saudi Fintech Platform Lean Technologies Raises $67.5M In Latest Funding Round Saudi Arabia’s fintech ecosystem continues to thrive as Lean Technologies, a leading fintech infrastructure platform, raises $67.5 million in a Series B funding round led by US-based VC firm General Catalyst. Read more here: https://lnkd.in/eDbnWZah #SaudiFinTech #MiddleEast #AwadCapital

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FinTech, FinTech, FinTech - Riyadh’s energy is absolutely electric this week! ⚡️ Conference season is truly in full swing when your flight to #Riyadh is full of key ecosystem players heading to 24 Fintech to start the post summer period (great catching up with Dany Farha, Walid Faza, Hosam Arab (MVP) and Joe Abi Akl on the flight) 💼 Today I am delivering a keynote this afternoon at 14:30 on the Fusions stage on the state of #MENA #FinTech. Come say hi if you are at the event or drop me a DM, I’d love to see you there! MAGNiTT’s data shows a staggering 650% growth in MENA’s FinTech sector from 2020 to 2023, making it the top choice for investors in H1'24. 🌍 And guess what? FinTech isn't just leading the pack in MENA —it’s dominating across all emerging venture markets! Can’t wait to share my thoughts on the future of this dynamic industry, the opportunities ahead, and the key players who are driving innovation. A big shoutout to Tahaluf and Fintech Saudi for making this inaugural Fintech event in KSA a reality! It is great to see regulators, central bankers, founders, investors and corporates engaging on driving this space forwards. (Special shout out to Dalia Kamar and Sheryl Carvalho on the Venturescape event yesterday!) There is continued momentum globally in FinTech. After the success seen in E-commerce and Logistics, #FinTech leads the way in the wider disruption. Can’t attend the event, and want to know all the industry details? Get the report here:  https://lnkd.in/dsXRmUkR Any questions you want me to address in my key note? Drop them 👇 and I will try my best to address them. #Fintech #KSA #Startups #SaudiArabia #Startups #Innovation #VentureCapital #Investments

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GenAI is set to revolutionize the banking experience. Capco’s new survey of banking service users in Saudi Arabia reveals that the fundamentals are in place. With 81% of respondents accessing banking through mobile apps and 68% say they are comfortable to be guided by AI in their day-to-day decisions, banks must be prepared to embrace AI. Read the report to explore customer attitudes to next-generation banking services and the technologies and data-sharing that will support them – together with expert commentary on the steps banks can take to prepare: https://okt.to/P0c1AO #BankingSaudi #MiddleEastBanking #SaudiBanking #BankOfTheFuture #CapcoMiddleEast #GenAI #Hyperpersonalization #FutureOfBanking #CoreTransformation

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Stake, a leading global digital real estate investment platform in the Middle East and North Africa (MENA), has officially launched in Saudi Arabia, marking a transformative moment in the Kingdom's investment landscape. As the first platform regulated by the Capital Market Authority (CMA) to allow individuals outside of Saudi Arabia to invest in the country's real estate market, Stake is set to redefine access to high potential real estate markets. In partnership with respected developer Al Rajhi Seventh "RJ7", Stake has unveiled its inaugural fund with an income-generating commercial property in North Riyadh. The launch is supported by a strategic partnership with Mulkia Investment Company, a leading Saudi asset management firm. Together, they aim to launch private real estate funds tailored to the Saudi market, managed by Mulkia and distributed through Stake's digital platform. This partnership aligns seamlessly with the economic transformation goals of Vision 2030 by making quality real estate investments more accessible to a wider audience. Through its user-friendly app, Stake enables investors to participate in curated Sharia-compliant real estate opportunities with entry points as low as SAR 500. With over 800,000 users worldwide, Stake's mission to democratise real estate ownership resonates strongly with Saudi Arabia's dynamic and fast-growing economy. With a projected growth rate of 4.6% in 2025, the Kingdom is one of the most promising economies in the G20. (Image by Aargam) #RealEstateInvestment #FinTech #MENA #Vision2030 #SaudiArabia #DigitalTransformation 

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🚀 #FundingAlert — Riyadh-based proptech and fintech startup Ejari | ايجاري has secured $14.65 million (SAR 55 million) in its Seed round, led by Partners for Growth (PFG), BECO Capital, anb capital, Rua Growth Fund, Alinma Bank (Alinma Pay), Vision Ventures (VV), and AQAR عقار platform. Existing investors, including Salica Investments' Oryx Fund, also participated in this debt and equity round. Founded in 2022 by Yazeed Al-Shamsi, Fahad Albedah, Mohammed AlKhelewy, and Khalid Almunif, Ejari offers a Rent Now, Pay Later (RNPL) solution to bring flexible payment options to Saudi Arabia’s rental market, where over 70% of rentals are traditionally paid annually or biannually. With the new funds, Ejari plans to enhance its technology, expand its product offerings, and strengthen its position as a leader in the Saudi RNPL segment. The platform currently operates in 17 cities across 8 regions, generating over $30 million in demand in less than a year. For more information, check out the news: 🔗 https://lnkd.in/grGN-Adq ━━━━━━━━━━━━━━━━ #FundingNews #PropTech #Fintech #SaudiArabia #RNPL #RealEstate #TechInvestment #MENA #Vision2030 #GCC #MiddleEast #TechStartups

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Saudi Arabia’s “Project Transcendence,” a $100 billion AI investment, aims to establish the Kingdom as a leading tech hub. Beyond infrastructure, it’s about building a full AI ecosystem—data centers, startup support, and talent recruitment. While facing regulatory and talent hurdles, Saudi Arabia’s vast resources enable it to tackle these challenges. This shift from an oil-based economy to a tech-driven future could create jobs, enhance public services, and elevate the Kingdom’s influence on the world stage. SovAI Systems "SovAI" Canvass AI

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216 #fintechs were operational in #Saudi at the end of 2023. 🚀 In 2018 there were 10 fintechs. 🌱 There has been a 21x growth in the number of fintechs in 5 years 📈 Check out the map below to see which fintechs are operational in Saudi 👇🏼

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Aramco Digital is in talks to invest about $1 billion in Mavenir and a deal is likely to be signed before the end of the year, the sources said, cautioning that a transaction is not guaranteed. The deal by Aramco Digital, the wholly-owned technology subsidiary of the oil giant, would be its first major transaction in the telecommunications industry as part of Saudi Arabia's Vision 2030 plan, which focuses on technological advancements and economic diversification. The telecom equipment industry, which has long been dominated by vendors such as Sweden's Ericssono, Finland's Nokia and China's Huawei, is one of the few critical areas where U.S. companies do not have a significant presence. https://lnkd.in/d4_afV4f

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Almost 45% ($50m) of the capital raised by MENA startups in June 2024 was in the contech and peoptech space, placing them in the top 3 sectors by size of investment attracted during this period. #Startups #Investment #MENA #ConTech #PropTech

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Since the 2018 creation of SVC, a key subsidiary of the SME Bank, #SaudiArabia has built a booming young #fintech industry through smart investments in bold new ideas, solutions, and local startups. Read the latest #SMEMonitor to learn how the Kingdom has become the number destination for VC capital in #MENA by creating a far more conducive environment for business, investment, and innovation. https://lnkd.in/eKEec84x

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