RIYADH: Financing provided by Saudi fintech companies to industrial projects surged 130 percent in the first half of 2026, reaching a record SR541 million ($144 million) as the government expands access to alternative funding for manufacturers.
The financing rose from SR234 million in the same period last year, according to the Ministry of Industry and Mineral Resources.
The ministry said the increase reflects efforts to provide more diversified financing solutions to support the growth and expansion of the Kingdom’s industrial sector. The initiatives form part of efforts under Saudi Vision 2030 to strengthen industry as a pillar of economic diversification and expand financing options for industrial investment.
The increase came as the ministry expanded its partnerships with fintech companies, with the number of firms it works with rising to seven from three in the first half of 2025. The partners include Tameed, Tarmeez Finance, Dinar, Forus, Yanal, Sukuk and Lendo, according to the ministry.
In a statement, the ministry said: “These partnerships aim to address financing challenges faced by industrial establishments and connect them with flexible and innovative credit solutions that support production continuity.”
