Fintech Buddy Saudi Arabia, Riad & Riad Law Firm partner to help companies in the Middle East
Fintech Buddy Saudi Arabia and Riad & Riad Law Firm will help Egypt-based fintechs who are exploring expansion to Saudi Arabia, and vice versa.
Fintech Buddy Saudi Arabia, a platform that offers professional services for startups and foreign companies, has signed a memorandum of understanding (MoU) with Egypt-based Riad & Riad Law Firm.
With this, they will help fintech companies in Egypt that are exploring expansion to Saudi Arabia, and vice versa, as per a statement shared by Zawya.
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Aligned with the Saudi Vision 2030, the country is developing as a hub for global companies looking to expand and set up regional offices in the region, said Nasreen Alissa, founder, Fintech Buddy Saudi Arabia.
Authorities are now working towards increasing the number of active fintechs to 525, and create 18,000 fintech jobs by 2030, Nasreen added.
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The two entities will look to improve client services in Egypt and Saudi Arabia and formalise mutual interaction, stated Dr. Fatma Salah, partner at Riad & Riad Law Firm.
Over the past five years, venture capital investments increased from around $1 million raised in three fintech-related deals in 2017, to over $159 million in 2022, with a total of 32 fintech deals, Dr Fatma added.
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Edited by Akanksha Sarma
