Bahrain-based digital consumer finance platform Skyro is preparing to enter Saudi Arabia and has appointed former Mastercard executive Maria Medvedeva as its managing director for the Middle East.
Medvedeva will lead the company’s Saudi market entry and wider regional expansion, including regulatory engagement, partnerships, local operations and product development. Skyro said it has already opened an office in Riyadh and is hiring ahead of securing the required regulatory licence.
Subject to regulatory approval, the fintech plans to offer consumer and small and medium-sized enterprise financing in Saudi Arabia. It is also assessing additional expansion opportunities across the wider Middle East.
Skyro said its Saudi operations will build on its consumer-financing business in Southeast Asia while adapting its products to local market needs. The company said it has built a credit portfolio of more than $200M and attracted over 7 million users since launching in Southeast Asia in 2022.
Medvedeva spent more than seven years as a vice president at Mastercard, covering markets including Saudi Arabia, Bahrain and the wider MENA region. In her new role, she will also oversee the development of local teams, operating models and partnerships as Skyro builds a broader digital financial services ecosystem for consumers and businesses.
Source: Zawya
