The inaugural Money20/20 Middle East event in Riyadh has concluded with a record-breaking attendance of over 38,500 participants, establishing it as the largest fintech gathering in the region and the second largest globally. The event underscored the Kingdom’s growing influence as a central hub for finance, technology, and investment.
Unprecedented Global Interest
The scale of the event highlighted a surge in international focus on Saudi Arabia’s burgeoning fintech ecosystem. This year’s edition hosted over 450 international fintech brands, a 207% increase compared to last year’s 24Fintech event. Investor presence saw a threefold increase, with more than 1,050 investors from around the world attending. The high level of engagement was further demonstrated by the 2,288 pre-scheduled meetings that took place between investors and startups.
Landmark Deals And Market Entries
The three-day conference served as a platform for several major announcements that will shape the region’s financial landscape. Key among them was Tamara’s $2.4 billion asset-backed facility supported by Goldman Sachs and Citigroup. Additionally, STV and Tadawul’s Wamid unveiled plans for the Kingdom’s first private asset trading platform. The event also marked the Saudi market debuts for global giants Google and Alipay. Visa introduced a new digital commerce acceptance capability, while Google Pay and Google Wallet officially launched in the country through partnerships with Al Rajhi Bank and Riyad Bank.
Cementing The Kingdom’s Fintech Status
With Saudi Arabia now home to over 280 active fintech firms and a capital market valued at $640 billion, the success of Money20/20 Middle East solidifies its position as a critical player in global finance. Annabelle Mander, Executive Vice President at event organiser Tahaluf, commented, “This event has proven that Saudi Arabia is not only a major fintech hub in the Middle East, but a driving force shaping the future of global finance.” Discussions and sessions throughout the event covered key themes from regulatory reforms and capital markets to AI-driven innovation.
About Money20/20
Money20/20 is a premier global event series that brings together the entire financial services, payments, and fintech ecosystem. Through its events in Europe, the USA, and Asia, it provides a platform for industry leaders, innovators, and policymakers to connect, create opportunities, and shape the future of money.
Source: Fintechnews Middle East
