“Investor interest is currently focused on the financial technology (fintech) sector, which has grown from just 10 registered fintech startups in 2018, to a total of 155 in 2020. In the first quarter of this year, fintech startups based in Saudi Arabia raised in excess of $127 million, a whopping jump compared to the $23 million raised by fintech startups in the country from 2015-2020.”

–Nagham Al Eithan reports for Wamda on Saudi Arabia’s booming venture capital activity. [Wamda]