Visa Partners with Numa to Drive Fintech Expansion in Saudi Arabia
In a significant move for the Kingdom’s financial sector, Jordan-based fintech Numa has teamed up with Visa to accelerate its growth plans in Saudi Arabia.
Visa’s investment will support Numa’s entry into the Saudi and UAE markets, expanding its range of services for independent professionals in the region.
Founded by Loay Malahmeh and Issam Najm in 2021, Numa aims to fill the financial services gap for freelancers and solo entrepreneurs with innovative digital banking solutions.
“Our partnership with Visa marks a crucial milestone in our mission to offer comprehensive financial services to underserved freelancers,” said Malahmeh.
The collaboration between Visa and Numa is set to propel the fintech’s expansion in Saudi Arabia and beyond, leveraging Visa’s digital payments expertise.
Hasan Kazmi, VP and Head of Digital Partnerships for Visa in the Central and Eastern Europe, Middle East, and Africa region, highlighted the importance of the partnership in fostering financial inclusion and supporting the freelance market in the MENA region.
Saudi Arabia Attracts Global Fintech Startups
Saudi Arabia’s fintech sector continues to draw interest from regional and global startups aligned with the nation’s vision to become a financial services hub.
Egyptian fintech startup Khazna recently announced its expansion plans in Saudi Arabia in partnership with Khwarizmi Ventures, offering financial services tailored for the underbanked.
With a focus on creating a cashless society and supporting Vision 2030 goals, Khazna aims to contribute to Saudi Arabia’s position as a potential global fintech hub.
“Expanding to Saudi Arabia, the region’s largest economy, is a strategic move for us as we look to build on our success in Egypt,” stated Omar Saleh, co-founder and CEO of Khazna.