Samer Choucair: Riyadh Emerges as a Regional Hub for Fintech Capital
Investment strategist Samer Choucair said the conclusion of the second edition of Money20/20 Middle East in Riyadh signals a decisive transition for Saudi Arabia’s fintech sector from a phase of attracting attention to one focused on proving its ability to transform financial innovation into scalable operational infrastructure and measurable cash flows.
Choucair explained that the conference, held in Riyadh from September 14 to 16, brought together more than 600 investors, 150 startups, and over 350 brands, with attendance expected to surpass 38,000 visitors. He said the scale of participation reflects the rapidly expanding base of investors and financial institutions focused on the Saudi market.
He highlighted cross-border payments as one of the conference’s most significant developments, including the gradual rollout of Mada card acceptance in Qatar and Himyan card acceptance in Saudi Arabia, alongside the Saudi Central Bank’s announcement that Tap to Pay on iPhone for merchants is nearing availability. In Choucair’s view, these developments expand the region’s payments infrastructure and facilitate greater trade and tourism flows across the Gulf.
Choucair added that Tabby’s $233 million funding round at a $6.5 billion valuation provides a significant indication of the ability of Saudi and regional fintech companies to attract substantial institutional capital. He noted that the company has reported processing more than $18 billion in annual transaction volume, with 25 million registered users and 70,000 merchant partners.
He emphasized that investors should look beyond headline funding figures and lofty valuations, instead examining licensing frameworks, transaction growth, credit-portfolio quality, profitability, and the ability of fintech companies to scale beyond the buy-now-pay-later model.
According to Choucair, the next phase of capital deployment is likely to focus increasingly on payments infrastructure, SME financing, artificial intelligence applied to credit assessment and regulatory compliance, and cross-border financial services. At the same time, interest rates and credit quality will remain among the most important determinants of fintech valuations.
Choucair concluded that the significance of Money20/20 for the Saudi market should not be measured solely by the number of announced deals. Its greater importance lies in whether these investments and strategic partnerships can help build a more efficient financial ecosystem one capable of supporting the expansion of the non-oil economy and advancing the objectives of Saudi Vision 2030.