The Money 20/20 Middle East conference kicked off yesterday in Riyadh, bringing together over 350 speakers, 450 brands, and 600 investors managing USD 7 tn in assets from more than 40 countries. Organized by FinTech Saudi with Tahaluf, the event spotlights AI, open finance, and instant payments, with dedicated platforms to connect investors and emerging companies.

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#1- BNPL firm Tamara landed a shariah-compliant asset-backed facility worth up to USD 2.4 bn from Goldman Sachs, Citi, and Apollo funds, it said in a press release yesterday. Announced at the Money 20/20 Middle East, the deal fully refinances and upsizes a previous USD 500 mn facility arranged by Goldman Sachs. The package comprises an initial USD 1.4 bn tranche, with a further USD 1 bn available over the next three years, pending regulatory approvals.

Where is the money going? Proceeds will support the expansion of Tamara’s credit and payment products, diversification into new offerings, and its goal of building a regional financial super app. The facility also boosts the company’s lending capacity as it scales beyond current 20 mn users and 87k merchants.

#2- Watch out, Apple: Google Pay and Google Wallet are now live in the Kingdom, adding tap-to-pay services for Android users, Google announced in a blog post yesterday. The Google Wallet app is now available to download from the Play Store, allowing users to integrate their national payment system (mada) and credit cards like Visa and Mastercard for in-store purchases, with online services to be available soon.

Who can use it? The new service is available for Al Rajhi Bank and Riyad Bank’s customers at launch, with more banks to follow suit later.

ALSO- Alipay+ is also on the way: Sama signed an agreement with Singapore’s AntInternational to enable Alipay+ transactions through mada starting in 2026, giving international visitors and users of Alipay+ network wallets the ability to make payments at participating merchants.

The two heavy hitters enter a booming market: E-payments rose to 79% by 2024, exceeding their 70% target for the year, SPA quoted Finance Minister Mohammed Al Jadaan as saying. Active fintech firms expanded to 280 by mid-2025, marking a 22% y-o-y increase, and a significant jump from fewer than 20 a decade ago.

ALSO FROM MONEY 20/20- Saudi HR platform Jisr launched Jisr Spend, the first locally built expense management solution in the Kingdom that integrates corporate cards and reimbursements into a single system, according to a press release.

AND- Derayah Financial bags two partnerships: Derayah Financial completed technicalintegration with US-based brokerage platform Alpaca, allowing Alpaca's non-resident clients to trade directly in the Saudi market. The firm also signed a partnership with Tamra Capital to develop joint investment products.

Access to capital is a key theme at Money 20/20: Raising capital is the biggest "pain point" for early-stage founders, Gulf News quoted Managing Partner at +VC Hasan Haider as saying. Meanwhile, MD at Partners for Growth Armineh Baghoomian emphasized the need for alternative funding, stating that "growth debt fills that gap, providing a flexible, founder-friendly alternative."

WHAT TO WATCH FOR- Standard Chartered Ventures will sign four MoUs this week with an unnamed local bank and Tadawul affiliate Wamid, Middle East Head Mohammed Feroz told Al Arabiya. He also confirmed plans to establish a new investment fund in the Kingdom to support emerging businesses with logistical and financial solutions.

The upcoming days are also set to see product launches, from fintechs like Madkhol, Drahim, and more. Stay tuned for our ongoing coverage.

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