SEDCO Holding signs MoU with Fintech Saudi to support local Fintech industry

SEDCO Holding signs MoU with Fintech Saudi to support local Fintech industry

- The partnership aims to provide entrepreneurs with the required knowledge and tools to secure funding and financing during various stages of projects’ growth journey

- Creating new opportunities for investors and entrepreneurs in the fintech industry to develop, expand, and sustain their businesses

- According to “Fintech Saudi” 2022 annual report, the volume of investment in the fintech industry has reached $400 million, with 147 local and international active fintech companies in the Kingdom

Jeddah: SEDCO Holding, a leading investment company, signed an MoU with Fintech Saudi initiative to launch curated programs that aim to support and develop the fast-growing Saudi fintech industry. This comes as part of both entities’ efforts to accomplish the Kingdom’s aspiration in developing the financial sector, in line with Saudi Vision 2030.

Signed by Mohammed Mosly, Chief Operating Officer of SEDCO Holding and Nezar Alhaidar, Director of Fintech Saudi, the memorandum of understanding (MoU) aims to motivate entrepreneurs and SME startups through the launch of curated programs. These programs will help in enhancing financial literacy and awareness, developing skills by providing specialized trainings, workshops and courses, as well as facilitating knowledge sharing between entrepreneurs in the fintech industry.

The partnership is also designed to enable SME startups to gain