The Middle East’s largest fintech gathering closed with a show of scale and ambition that underscored Saudi Arabia’s growing role as a global financial technology hub. Money20/20 Middle East drew thousands of founders, regulators, investors and executives to Riyadh, where discussions ranged from buy now pay later and open banking to digital identity and card-linked loyalty.
The startup spotlight fell on the MoneySurge competition, which narrowed more than two dozen entrants to 10 finalists. Among them were Capifly, focused on new funding mechanisms for small businesses; Eddekhar, offering savings products tailored to Arab consumers; and Markaba, rethinking car ownership. MYNE showcased an alternative assets platform, Orbii highlighted retail intelligence, and RABEH targeted financial inclusion. Others included Sahl with AI-driven governance tools, Tanami with agricultural investments, Yasmina in lifestyle and fashion, and Zest Equity with access to private markets.
Global capital flows remained a central theme. Tamara and Tabby, two of the Gulf’s largest BNPL players, drew attention for their ability to attract international financing while competing directly with global rivals. Panels also spotlighted Apple VAS, open banking APIs, and embedded finance, signaling the region’s push to align with global infrastructure standards.
“In markets like Saudi Arabia, equity can be overly dilutive, and commercial banks often lack the flexibility to finance fast-evolving businesses effectively,” said Armineh Baghoomian, managing director at Partners for Growth. “Growth debt fills that gap, enabling companies to scale strategically without giving away too much ownership too soon.”
Hisham Al-Falih, chief executive of Lean Technologies, said fintech in the Middle East is “moving from the sidelines to the very centre of economic transformation.” He pointed to Saudi Arabia’s Vision 2030 reforms and regulatory support as key drivers of real-time payments and broader access to financial services.
Open banking, embedded finance and artificial intelligence dominated much of the conversation. “These shifts create opportunity, but for founders, raising capital at this stage remains one of the biggest pain points,” said Hasan Haider, managing partner at +VC.
The funding momentum was reflected in data. “In the first half of 2025, fintech funding tripled year-on-year to $596 million, representing 39% of total capital secured across MENA,” said Naif AbuSaida, founder of savings platform Hakbah.
Saudi officials, joined by regulators from the UAE and Bahrain, outlined faster licensing regimes and stronger consumer protections, reinforcing signals to international investors. Sovereign wealth funds, private equity firms and venture capital groups were present across sessions, highlighting the growing depth of regional capital markets.
“Hosting Money20/20 Middle East in Saudi Arabia is a powerful reflection of the Kingdom’s role in shaping global fintech,” said Annabelle Mander, executive vice president of Tahaluf, the event’s co-organizer.
The event ended with final pitches from the MoneySurge startups, but the broader takeaway was clear: Riyadh is no longer an emerging fintech market—it is positioning itself as a global hub for digital finance.
Money20/20 Middle East signals Riyadh as Fintech Capital