Saudi crowdfunding funding hits $800m a year: top official.

Crowdfunding has emerged as one of the fastest-growing financial channels in Saudi Arabia, with platforms doubling in size annually and surpassing SR3 billion ($800 million) in capital last year, according to a top official.

During a panel discussion at the Kingdom’s premier tech conference, LEAP 2025, Mohammed El-Kuwaiz, chairman of the Capital Market Authority, stated the financing landscape has also expanded significantly, moving beyond traditional bank loans and initial public offerings.

“Whether we look at debt crowdfunding or equity crowdfunding, these platforms have actually been doubling in size every year for the past three years,” he said, highlighting their growing role in the country’s evolving financial ecosystem.

Alongside crowdfunding, Saudi Arabia has introduced a range of new financing options to support businesses at different stages of growth.

Source: ARABNEWS