Fintech revolution in Saudi Arabia.
✔️The biggest challenger to the most mature Fintech markets (USA and Britain) is Singapore
✔️Total funding in #fintech in Singapore in 2018 was $500M. In 2022 it was $10B and it will double the size by the end of this year. In Q1 and Q2 of this year fintech startups from Singapore raised $500M, in America $700M the competition is strong.
✔️top fintech trends in the world: digital payments, digital investment, digital capital raising, digital assets, and neobanking emerging as some of the most significant trends. Digital payments are number🥇trend in Saudi, Singapore and US.
✔️The growth in the fintech market is driven by several factors.
1️⃣Firstly, the increasing adoption of smartphones and the internet has made digital solutions more accessible to consumers, leading to a surge in demand for fintech services.
2️⃣Secondly, the COVID-19 pandemic has accelerated the shift towards digital payments and investments, as consumers have had to adapt to remote and contactless transactions.
3️⃣Thirdly, regulatory changes have enabled fintech companies to compete with traditional financial institutions on a more level playing field.
4️⃣Finally, advancements in technology, such as AI and blockchain, have opened up new possibilities for fintech innovation, driving further growth in the market.
✔️Specific in Saudi: some fintech trends that also keeping up are p2p lending and insurance. Muslim population has to give away 2,5% of money that were “stored” for a year to a poor. And they have specific Ministry which controls that and induces the monetary turnover within the country and closes the gap between rich and poor layer of population. This process is also very digitalized.
✔️SAMA (Saudi Arabia Monetary Authority) and CMA (Capital Market Authority) created two innovative programs to support Saudi Arabia fintech ecosystem: Fintech Saudi and Sandbox. Founers are working hand in hand with government in a controlled environment without the burden of comply to general regulations systems. This makes it very attractive to US-based and other global investors because they can get inspired and scale this product on a global market.
✔️last but not least, analysts shows that by 2028 there will be around 36 million users of payment solutions in Saudi Arabia. For those of you who knows the total amount of population in Saudi it is exactly 36 million right now. We are about to face full digitalization of one country.
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About me 🔗
✔️The biggest challenger to the most mature Fintech markets (USA and Britain) is Singapore
✔️Total funding in #fintech in Singapore in 2018 was $500M. In 2022 it was $10B and it will double the size by the end of this year. In Q1 and Q2 of this year fintech startups from Singapore raised $500M, in America $700M the competition is strong.
✔️top fintech trends in the world: digital payments, digital investment, digital capital raising, digital assets, and neobanking emerging as some of the most significant trends. Digital payments are number🥇trend in Saudi, Singapore and US.
✔️The growth in the fintech market is driven by several factors.
1️⃣Firstly, the increasing adoption of smartphones and the internet has made digital solutions more accessible to consumers, leading to a surge in demand for fintech services.
2️⃣Secondly, the COVID-19 pandemic has accelerated the shift towards digital payments and investments, as consumers have had to adapt to remote and contactless transactions.
3️⃣Thirdly, regulatory changes have enabled fintech companies to compete with traditional financial institutions on a more level playing field.
4️⃣Finally, advancements in technology, such as AI and blockchain, have opened up new possibilities for fintech innovation, driving further growth in the market.
✔️Specific in Saudi: some fintech trends that also keeping up are p2p lending and insurance. Muslim population has to give away 2,5% of money that were “stored” for a year to a poor. And they have specific Ministry which controls that and induces the monetary turnover within the country and closes the gap between rich and poor layer of population. This process is also very digitalized.
✔️SAMA (Saudi Arabia Monetary Authority) and CMA (Capital Market Authority) created two innovative programs to support Saudi Arabia fintech ecosystem: Fintech Saudi and Sandbox. Founers are working hand in hand with government in a controlled environment without the burden of comply to general regulations systems. This makes it very attractive to US-based and other global investors because they can get inspired and scale this product on a global market.
✔️last but not least, analysts shows that by 2028 there will be around 36 million users of payment solutions in Saudi Arabia. For those of you who knows the total amount of population in Saudi it is exactly 36 million right now. We are about to face full digitalization of one country.
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About me 🔗
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I have about 22000 connections on LinkedIn, with around 10,000 of them being investors, and roughly 40% being startup founders. My main role is to find the right opportunities for both groups. A lot of the matchmaking happens in my head first, and then I bring it to life. That said, there are also some tricky conversations, especially when I don’t meet the expectations of founders who are raising their first round of funding.
My main clients are successful founders who run service businesses or any other type of business, and who have self-funded their product, now showing their first traction in the Middle East and raising seed/series A $2,5M to $10M.
The typical conversation goes something like this when they want me to set up calls with tier-1 funds and angels:
Client: Genia, why not schedule a call with Fund A?
Me: Well, they've deployed all their capital and are now raising a new fund.
Client: What about Fund B?
Me: They don’t invest in pre-revenue companies.
Client: But I see you're connected with Fund C, why not schedule with them?
Me: They just invested in your competitor.
Client: And this angel investor?
Me: He’s investing his dividends from his main business, and has a max of $200K per quarter. He’s also just made his next capital call for a biotech fund.
Client: Okay, what about this angel?
Me: He’s dealing with some family issues right now and isn’t investing at the moment.
Client: Alright, how about Fund D?
Me: They’re currently only looking at liquid opportunities.
Client: Okay, let’s try Fund F.
Me: They don’t have internal expertise in your niche, and it would take them about 8 months to close a deal. Your runway is 6 months, so it’s just not a good fit.
And so on...
Working closely with the market seems to make my job as Investor Relations harder. I do fewer personal introductions these days, but when I do, they tend to click fast and the VCs end up writing checks.
At the end of the day, you don’t want investors from my network to take a call with you just as a favor to me. You want them to be genuinely interested and able to work with you long-term.
〰️〰️〰️〰️〰️〰️〰️〰️〰️
About me 🔗
My main clients are successful founders who run service businesses or any other type of business, and who have self-funded their product, now showing their first traction in the Middle East and raising seed/series A $2,5M to $10M.
The typical conversation goes something like this when they want me to set up calls with tier-1 funds and angels:
Client: Genia, why not schedule a call with Fund A?
Me: Well, they've deployed all their capital and are now raising a new fund.
Client: What about Fund B?
Me: They don’t invest in pre-revenue companies.
Client: But I see you're connected with Fund C, why not schedule with them?
Me: They just invested in your competitor.
Client: And this angel investor?
Me: He’s investing his dividends from his main business, and has a max of $200K per quarter. He’s also just made his next capital call for a biotech fund.
Client: Okay, what about this angel?
Me: He’s dealing with some family issues right now and isn’t investing at the moment.
Client: Alright, how about Fund D?
Me: They’re currently only looking at liquid opportunities.
Client: Okay, let’s try Fund F.
Me: They don’t have internal expertise in your niche, and it would take them about 8 months to close a deal. Your runway is 6 months, so it’s just not a good fit.
And so on...
Working closely with the market seems to make my job as Investor Relations harder. I do fewer personal introductions these days, but when I do, they tend to click fast and the VCs end up writing checks.
At the end of the day, you don’t want investors from my network to take a call with you just as a favor to me. You want them to be genuinely interested and able to work with you long-term.
〰️〰️〰️〰️〰️〰️〰️〰️〰️
About me 🔗
My webinar about logistics tech solutions in the Middle East and how BMW is going to enter Gulf region
Link to the recording 🔗
Link to the recording 🔗
The "Collective West" thinks that women in Saudi Arabia are the most oppressed women on Earth (False).
During my visit to Al Ula, I saw several tombs (like the one behind me) that bear inscriptions indicating they were owned by women. This means that these women were the wealthiest in their families, as it would have been very expensive to construct such tombs, which took about a year and a half to complete.
When I asked the tour guide how this was possible, he shared another interesting fact: even Prophet Muhammad first worked for his future wife, and that is how they met.
He also mentioned that during times of peace, fertility, and favorable weather conditions, women often held power, and religion supported this trend. In fact, we found some Aramaic inscriptions on the walls of these tombs in Al Ula that reflected this.
On the other hand, during times when weather conditions were harsh and the human population struggled, men would took power and interpret religion to their advantage.
During my visit to Al Ula, I saw several tombs (like the one behind me) that bear inscriptions indicating they were owned by women. This means that these women were the wealthiest in their families, as it would have been very expensive to construct such tombs, which took about a year and a half to complete.
When I asked the tour guide how this was possible, he shared another interesting fact: even Prophet Muhammad first worked for his future wife, and that is how they met.
He also mentioned that during times of peace, fertility, and favorable weather conditions, women often held power, and religion supported this trend. In fact, we found some Aramaic inscriptions on the walls of these tombs in Al Ula that reflected this.
On the other hand, during times when weather conditions were harsh and the human population struggled, men would took power and interpret religion to their advantage.
Unlock Middle East 🇸🇦🇶🇦 pinned «Hi everyone, my name is Genia Xasis, I am the founder at Multiplyers.vc I am on a mission to bring more global technologies to Gulf and contribute Vision 2030 Saudi, Qatar and UAE. I live between Abu Dhabi and Riyadh for 3️⃣ years, learned a lot how to make…»
🔥 Here is the list of the most active #fintech #Saudi #Arabia #venture #capital funds:
1️⃣ Saudi Venture Capital Investment Company(SVC) is a government investment company aiming to stimulate and sustain financing for startups from pre-seed to pre-IPO stages. They invest in VC funds, accelerator and startup studio funds, private equity funds, venture debt funds, and private debt funds, with a focus on fintech among all sectors.
2️⃣ RAED Ventures based in Riyadh, Raed Ventures invests in seed and early-stage startups in Saudi Arabia and the MENA region. Their focus sectors include fintech, e-commerce, logistics, AI/ML, and entertainment. Notable fintech investments include Hala, Wafeq, Qlub, Lamaa, and Simplifi.
3️⃣ Nama Ventures focusing on early-stage technology startups within the MENA region. They have invested in over 45 companies across sectors such as fintech, proptech, entertainment tech, and legal tech. Notable investments include Salla, Tamara, Calo, and Rize.
4️⃣ HALA Ventures invests in early- and growth-stage startups in the GCC region, Egypt, and Jordan, focusing on capital-efficient businesses leveraging technology to scale globally. Their portfolio includes fintech companies like Sarwa, Democrance, and CreditFins.
5️⃣ STV STV is a $800 million venture capital fund backed by Saudi Telecom Company, primarily investing in the digital and software sectors, including fintech.
6️⃣ Wa'ed Ventures As the entrepreneurship arm of Saudi Aramco, Wa’ed Ventures offers debt and equity funding to innovative startups aligning with Saudi Aramco's strategic goals, with a focus on sectors including fintech.
7️⃣ Vision Ventures (VV) A Saudi-based VC firm specializing in early and growth-stage investments in innovative tech startups, including those in the fintech sector.
8️⃣ Impact46 Impact46 is an asset manager and advisor specializing in alternative investment opportunities. The firm provides innovative investment products and services to local and international institutions, family groups, endowments, and high-net-worth investors, with a focus on sectors including fintech.
9️⃣ Derayah Ventures Derayah Ventures invests in early-stage tech startups, particularly in the fintech, e-commerce, and software sectors.
🔟 AlTouq Group provides venture capital for tech companies, emphasizing fintech, software, and digital transformation projects.
Most of the VCs I mentioned are industry agnostic and stage agnostic, that means that there is no average check sizes these funds invest, specific figures and can vary based on the stage of investment and individual company needs.
$1 billion is the total in venture capital deployment in 2024 in Saudi. Let's see what is going to wait us in 2025.
If you want Multiplyers and me to introduce you to these VCs please book a spot on our next group tour to Saudi in 20 days 🕙
—
Yours sincerely,
Genia Xasis
RSVP ➡️ https://lnkd.in/danykBWz
1️⃣ Saudi Venture Capital Investment Company(SVC) is a government investment company aiming to stimulate and sustain financing for startups from pre-seed to pre-IPO stages. They invest in VC funds, accelerator and startup studio funds, private equity funds, venture debt funds, and private debt funds, with a focus on fintech among all sectors.
2️⃣ RAED Ventures based in Riyadh, Raed Ventures invests in seed and early-stage startups in Saudi Arabia and the MENA region. Their focus sectors include fintech, e-commerce, logistics, AI/ML, and entertainment. Notable fintech investments include Hala, Wafeq, Qlub, Lamaa, and Simplifi.
3️⃣ Nama Ventures focusing on early-stage technology startups within the MENA region. They have invested in over 45 companies across sectors such as fintech, proptech, entertainment tech, and legal tech. Notable investments include Salla, Tamara, Calo, and Rize.
4️⃣ HALA Ventures invests in early- and growth-stage startups in the GCC region, Egypt, and Jordan, focusing on capital-efficient businesses leveraging technology to scale globally. Their portfolio includes fintech companies like Sarwa, Democrance, and CreditFins.
5️⃣ STV STV is a $800 million venture capital fund backed by Saudi Telecom Company, primarily investing in the digital and software sectors, including fintech.
6️⃣ Wa'ed Ventures As the entrepreneurship arm of Saudi Aramco, Wa’ed Ventures offers debt and equity funding to innovative startups aligning with Saudi Aramco's strategic goals, with a focus on sectors including fintech.
7️⃣ Vision Ventures (VV) A Saudi-based VC firm specializing in early and growth-stage investments in innovative tech startups, including those in the fintech sector.
8️⃣ Impact46 Impact46 is an asset manager and advisor specializing in alternative investment opportunities. The firm provides innovative investment products and services to local and international institutions, family groups, endowments, and high-net-worth investors, with a focus on sectors including fintech.
9️⃣ Derayah Ventures Derayah Ventures invests in early-stage tech startups, particularly in the fintech, e-commerce, and software sectors.
🔟 AlTouq Group provides venture capital for tech companies, emphasizing fintech, software, and digital transformation projects.
Most of the VCs I mentioned are industry agnostic and stage agnostic, that means that there is no average check sizes these funds invest, specific figures and can vary based on the stage of investment and individual company needs.
$1 billion is the total in venture capital deployment in 2024 in Saudi. Let's see what is going to wait us in 2025.
If you want Multiplyers and me to introduce you to these VCs please book a spot on our next group tour to Saudi in 20 days 🕙
—
Yours sincerely,
Genia Xasis
RSVP ➡️ https://lnkd.in/danykBWz
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We are preparing our next road show to Saudi Arabia.
Here is our secret sauce 🔗
Who is joining us in Riyadh February 8-11❓
To learn more ➡️ go to our website
Here is our secret sauce 🔗
Who is joining us in Riyadh February 8-11❓
To learn more ➡️ go to our website
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Let’s get acquainted
Anonymous Poll
25%
I am a founder
50%
I am developing business
0%
I am an executive
25%
I am investor
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Prince MBS of Saidi Arabia is on a mission to transform his oil-rich country and its fundamentalist Islamist past, into a nation that can cultivate soft power from immense wealth.
“I don’t think there’s another place where the leader has such a good personal relationship with both Trump and Putin,” Saudi commentator Ali Shihabi said, adding that for “Saudi Arabia, (the event is) prestigious and enhances the Saudi soft power regionally and globally.”
In addition to hosting international boxing bouts and electronic music festivals, Saudi Arabia has sought to project an image of being a global peacekeeper, hosting aid donor meetings and peace conferences.
On Monday, Witkoff joined US National Security Adviser Mike Waltz and Secretary of State Marco Rubio for a meeting with Prince bin Salman in the Saudi capital Riyadh, just one day ahead of the scheduled talks with Russian Foreign Minister Sergey Lavrov, Putin’s aide Yury Ushakov and Russia’s sovereign wealth fund chief Kirill Dmitriev.
“I don’t think there’s another place where the leader has such a good personal relationship with both Trump and Putin,” Saudi commentator Ali Shihabi said, adding that for “Saudi Arabia, (the event is) prestigious and enhances the Saudi soft power regionally and globally.”
In addition to hosting international boxing bouts and electronic music festivals, Saudi Arabia has sought to project an image of being a global peacekeeper, hosting aid donor meetings and peace conferences.
On Monday, Witkoff joined US National Security Adviser Mike Waltz and Secretary of State Marco Rubio for a meeting with Prince bin Salman in the Saudi capital Riyadh, just one day ahead of the scheduled talks with Russian Foreign Minister Sergey Lavrov, Putin’s aide Yury Ushakov and Russia’s sovereign wealth fund chief Kirill Dmitriev.
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I posted a list of women who are running family offices in the Gulf region. Here is it 📎
Most of the women in the list came from wealthy families but someone built their own wealth or built a career and joined F/O
The post went viral on Linkedin, I don't want you to miss that. 🔥
The challenge was that a lot of women actually keep low profile, they don’t have any Linkedin page, especially those in Qatar.
I also found names of several Saudi princess that I would be happy to add in the list but they are not public too.
Most of the women in the list came from wealthy families but someone built their own wealth or built a career and joined F/O
The post went viral on Linkedin, I don't want you to miss that. 🔥
The challenge was that a lot of women actually keep low profile, they don’t have any Linkedin page, especially those in Qatar.
I also found names of several Saudi princess that I would be happy to add in the list but they are not public too.
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8 hours of negotiations between US and Ukraine in Jeddah finished with these results:
✔️Ukraine agrees on 30-day ceasefire proposal
✔️US resumes aid to Ukraine
✔️Minerals deal coming “as soon as possible”
✔️Establishment of negotiating terms to come
✔️Trump says he may invite Zelensky back to White House
✔️US will now take this proposal to Russia over the next two days in Moscow
Many hurdles ahead but notable that this all happened in Saudi Arabia and during Ramadan!
(C) Christina Bourke
I can’t be more proud of Kingdom today.
Read the full article on Bloomberg 📎
✔️Ukraine agrees on 30-day ceasefire proposal
✔️US resumes aid to Ukraine
✔️Minerals deal coming “as soon as possible”
✔️Establishment of negotiating terms to come
✔️Trump says he may invite Zelensky back to White House
✔️US will now take this proposal to Russia over the next two days in Moscow
Many hurdles ahead but notable that this all happened in Saudi Arabia and during Ramadan!
(C) Christina Bourke
I can’t be more proud of Kingdom today.
Read the full article on Bloomberg 📎
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