Saudi fintech lending to industrial projects jumps 130% in H1

28/08/2026 02:59 AST

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."

The financing products include working-capital financing, invoice financing and funding for the expansion of industrial projects, the ministry said.

Expanding access to funding
The ministry has also held workshops for entrepreneurs and industrial investors to raise awareness of financing solutions offered by fintech companies and explain how to access them.

It has shared its factory database with financing providers to help industrial companies gain access to financial resources tailored to their needs.

Fintech financing to Saudi Arabia's industrial sector reached SR774 million in 2025, up 36 percent from SR569 million in 2024 and SR317 million in 2023, according to the ministry.

The first-half 2026 figure already represents about 70 percent of last year's full-year financing, highlighting the rapid expansion of fintech-based funding for industrial businesses.

New financing channels
The ministry said in an earlier 2026 announcement that it plans to further expand its industrial lending portfolio, introduce new financial instruments aligned with the sector's needs, and increase the number of fintech partners and beneficiaries.

The latest increase in industrial financing also comes as Saudi regulators continue to develop new financing channels.

The Saudi Central Bank said this week that it is seeking public feedback on draft rules governing supply-chain finance and supply-chain finance intermediation. The proposed framework is intended to support the growth of the sector and improve the efficiency of financial transactions with merchants.

Arab News