Rasan Secures Green Light for Digital Finance Venture in Saudi Arabia

Rasan Information Technology took a significant step in the Saudi market this week after receiving initial approval from the Saudi Central Bank to establish a completely new company called Next Fin Solutions, whose mission will be to act as a digital financing intermediary. Frankly, their entry into this field was not a coincidence; the financial market there is rapidly shifting towards digital services, and any company that misses this transformation could find itself out of the game before it even realizes it.

The company explained that it will now begin the official procedures for establishing the new entity, as part of a clear expansion plan through which it seeks to open new avenues for business growth. This expansion does not appear to be just a theoretical concept, especially after Rasan achieved a remarkable 187% increase in profits during the first nine months of 2025. Frankly, their figures were a "spot on" for tech companies that are playing multiple roles.

I recall, during an event I attended two years ago as part of our coverage on Arageek, how Saudi entrepreneurs were discussing the market's need for digital financing intermediaries to streamline the process for small businesses. Many complained at the time that the old procedures were "a bit of a stretch," and now we see the big players stepping in to fill that gap. I think—personally speaking—that a move like this might intensify the competition a bit, and that's not a bad thing at all.

That said, the road ahead for Next Fin Solutions won't be easy. The Saudi financial sector is governed by precise and sensitive regulations, and any new company needs time to prove its ability to comply and adapt. But, on the other hand, the market itself is thirsty for faster and more transparent solutions… and this could give Rasan an extra boost if it plays its cards smart.

And between you and me, the rapid growth in the Saudi fintech sector means that such moves won't be the last. In fact, we're likely to see other players rushing into the same space, especially as SAMA gradually opens the door and regulates this field more maturely. If Rasan continues at the same pace—or even close to it—we might find it competing in areas far beyond what some have imagined.

All of this, however natural it may seem, illustrates how the region is transforming into a veritable arena for digital financial experimentation, something that personally excites me… and again, I hope that small businesses aren't the ones who pay the price if competition intensifies. But overall, this move by Rasan seems smart and in tune with the trend, even if the next steps are “a bit of a nuisance,” as some of the founders I’ve met here and there have said.

Ultimately, the Saudi landscape is changing rapidly, and this move is just another indication of how dynamic the market is. For me, the future holds great potential—though execution is the true test, as we’ve learned time and again in the startup world.

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