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Fintech funding for industry rises 130%
The Saudi Ministry of Industry and Mineral Resources announced a 130% increase in the amount of financing provided by financial technology companies to industrial projects during the first half of 2026, reaching 541 million riyals compared to 234 million riyals in the same period last year. This growth resulted from strategic partnerships with seven financial technology companies, including three in the first half of 2025, aimed at addressing the financing challenges faced by industrial establishments and providing flexible, innovative solutions for capital funding and expansion financing. This initiative supports Saudi Arabia's Vision 2030 to strengthen the industrial sector and transform the Kingdom into a leading industrial power.
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