The number of Saudi fintech companies jumped to 147, an increase of 79% in 2022, compared to 82 companies in the previous year.

According to Fintech's annual report, the number of companies in the sector has increased 14.7 times in four years, from just ten companies in 2018.
Growth by industry was led by infrastructure with 600%, followed by personal finance and treasury management 175%, financial markets 129%, and private fundraising 125%.

Business solutions and information provision grew 73%, payments and currency exchange 65%, lending and finance 42%, while insurance held steady with no growth. According to the geographical distribution, Saudi Arabia is the headquarters of most fintech companies in the Kingdom with 129 headquarters, compared to 13% 18 headquarters outside the Kingdom.Riyadh is the largest city in the number of companies with 79% and about 114 headquarters, followed by Jeddah with 11 headquarters, Khobar with three, and one in Dammam.

Fintech strategy aims to add 18,000 jobs by 2030 through 525 companies, with their direct contribution to GDP reaching SR13.3 billion and the cumulative value of venture capital investment reaching SR12.2 billion.