SC Ventures, the innovation and venture-building arm of Standard Chartered Bank, has signed a Memorandum of Understanding (MoU) with Sanabil Studio to forge a strategic partnership aimed at co-building and scaling fintech ventures for small and medium-sized enterprises (SMEs) in Saudi Arabia.
The collaboration will leverage Sanabil Studio’s deep venture-building experience within the Kingdom and SC Ventures’ global network and perspective. This initiative is designed to accelerate the growth of innovative financial solutions for SMEs, aligning directly with the economic diversification goals of Saudi Vision 2030.
A Strategic Push For SME Financial Services
The partnership will prioritize the creation of ventures that solve critical challenges for Saudi SMEs. The core focus areas include improving access to finance and working capital solutions, advancing payments and embedded finance infrastructure, and developing financial technology that boosts SME productivity and scalability.
Under the agreement, both parties will work together to identify high-impact opportunities, incubate new ventures, and explore co-investment possibilities. A key aspect of the framework is to design these new companies for global scale from day one, equipping them with business models and technology ready for regional and international expansion.
A Blend Of Global Expertise And Local Insight
The collaboration is set to work closely with regulators and government bodies to foster a sustainable and innovation-friendly fintech ecosystem within the Kingdom.
“Saudi Arabia represents a strategic growth market for SME-focused financial innovation,” said Gabriel Heredia, Country Lead for Saudi Arabia at SC Ventures. “This partnership with Sanabil Studio brings together complementary strengths, combining SC Ventures’ global fintech expertise and network with Sanabil Studio’s established venture-building platform and deep local expertise. Together, we aim to support entrepreneurs developing scalable SME-focused solutions that contribute to the Kingdom’s Vision 2030 objectives.”
Muhanad Alashtr, Head of Venture Build at Sanabil Studio, echoed this sentiment. “At Sanabil Studio, we focus on systematically ideating and building new ventures from Saudi Arabia with global ambition,” he stated. “This MoU enables us to leverage SC Ventures’ global fintech experience and network as we develop and validate companies designed to compete in regional and international markets.”
About SC Ventures
SC Ventures is the innovation, investment, and venture-building arm of Standard Chartered Bank. It focuses on developing and scaling innovative business models to drive future growth and create new opportunities for clients and communities. The platform invests in fintech companies, promotes intrapreneurship, and builds new ventures from the ground up.
About Sanabil Studio
Sanabil Studio is the venture-building arm of Sanabil Investments, a financial investment company wholly owned by Saudi Arabia’s Public Investment Fund (PIF). The studio systematically ideates, builds, and scales new technology ventures from within the Kingdom, providing them with the resources and strategic support needed to achieve global ambition.
Source: FintechGate
