NayaOne Enters Saudi Arabia with First Locally Hosted Fintech Platform

Malaz Madani

Last updated 17-06-2025

3 min

NayaOne is launching the first fully Saudi-hosted fintech platform to boost innovation speed.

This aligns with Saudi Arabia's Vision 2030 for a digitally advanced financial framework.

The platform avoids data-sovereignty issues, enabling rapid concept-to-product transitions.

UK-Saudi cooperation supports economic growth, with NayaOne enhancing local financial collaborations.

Saudi Arabia's fintech market could reach $87 billion by 2029, driven by strong demand.

When a UK-based fintech infrastructure provider like NayaOne decides it's time to jump into Saudi Arabia's fintech scene, you know something good's brewing. And believe it or not, that's exactly what's just happened—with some sturdy backing from AstroLabs, no less.

This latest move involves launching the Kingdom's very first fully Saudi-hosted platform designed specifically to give banks, insurers and fintech startups the freedom—and speed—to design, test, and roll out their innovative products within weeks. Honestly, I reckon anyone who's ever worked in fintech can tell you: slashing the time from concept to execution down to weeks is no mean feat.

This bold new entry into the Saudi fintech ecosystem aligns nicely with the country's Vision 2030, which calls explicitly for a digitally advanced and inclusive financial framework. NayaOne’s platform, hosted locally, neatly sidesteps data-sovereignty issues, letting financial institutions bounce quickly and seamlessly from ideas to actual products in no time at all.

The company's founder and CEO, Karan Jain, summed it all up rather neatly, remarking: “Hosting our platform inside the Kingdom removes data-sovereignty friction and lets institutions move from idea to execution in weeks.” Spot on, if you ask me!

It's also worth noting that this launch isn't happening in a vacuum—it's part of a stronger push for UK-Saudi cooperation, backed officially by the UK's Department for Business and Trade. Baroness Gustafsson, Britain's Minister for Investment, voiced her enthusiasm, saying she's delighted to see strong UK fintech businesses like NayaOne taking their expertise into the Kingdom. According to Gustafsson, the soon-to-roll-out Industrial Strategy will have an international approach at its heart, with deeper partnerships in regions like Saudi Arabia crucial to future economic growth.

On the flip side, AstroLabs, a leading tech ecosystem supporter in the MENA, seems equally chuffed about this latest fintech leap. Alex Nicholls, Director of Expansion at AstroLabs, says NayaOne’s new Riyadh hub should quickly spur along development of solutions tailor-made for a fast-evolving local market. Nicholls also thinks it's uniquely positioned to create significant impact by accelerating collaboration among Saudi Arabia’s leading financial institutions and fintech innovators. Sounds like win-win to me.

And speaking frankly, a move like this couldn't have come at a better time. Saudi Arabia's fintech market has seriously taken off over the last few years—it's projected that market value could climb from about $64 billion set for 2024 up to an eye-watering $87 billion by 2029. With government programmes and increased demand driving growth, it’s clear Saudi Arabia is definitely not faffing around when it comes to fintech development.

Seeing ventures like these makes us here at Arageek quietly hopeful: startups and innovators across the MENA can only benefit when major global players like NayaOne join the party. This type of partnership has the potential to catapault fresh ideas and accelerate fintech evolution even further.

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