Noha Gad

The GCC region is undergoing a historic economic transformation, driven by visionary diversification strategies, technological adoption, and unprecedented cross-border collaboration. In this dynamic investment landscape, global investors seek both opportunities and expert guidance, the kind that comes from seasoned regional players.

Among these, Freedom International Group (FIG) positioned itself strategically in terms of building a system for managing many businesses and growing unicorns, with a proven track record of identifying and capitalizing on regional growth sectors, from infrastructure and renewable energy to venture capital and digital transformation.

In this regard, Sharikat Mubasher held an Interview with Chairman and CEO Narek Sirakanyan to know more about FIG's approach and how it contributes to the region's economic ambitions, as well as its regional expansion strategy.

What is FIG’s core investment philosophy, and how does it align with the economic visions of GCC countries?

At Freedom International Group (FIG), we identify high-growth opportunities in sectors that are critical to the future development of the GCC region. We particularly focus on healthcare, technology, and hospitality, as these areas align closely with the economic diversification strategies outlined in the Vision 2030 plans of countries like Saudi Arabia and the UAE. We believe in supporting transformative industries that contribute to long-term economic growth, innovation, and social impact. Our investments are guided by a commitment to sustainability and scalability, ensuring that we back ventures that can make a meaningful contribution to both regional economies and global markets. Our commitment is more than just financial; we are also bringing our expertise from France for our nutraceuticals, from Italy for our coffee, from the US for our IT, etc. We are coming with resources and real experts who will be developing and educating locals and passing on their core competencies. 

The group mentions 'growing unicorns' as a core focus. What specific metrics do you use to identify potential unicorns early?

To identify potential unicorns, we focus on a range of factors, including but not limited to market size, scalability, and innovation. The key criterium is that a unicorn must contribute to our existing ecosystem and help other mini unicorns to grow to a full-scale unicorn. The second criterium is to what extent we can disrupt the market we are entering through that acquisition or with a new product line with our innovative IT expertise to find a more efficient way to attract new customers.

For us, it's important to grow more than 25% per year on a stable, consistent basis. And we are analyzing if our existing customer base will be interested in the new company.

Project V, for instance, is an umbrella brand for health and beauty products produced in France and Switzerland. We offer over 40 products from the popular Classic Hit, Direct Hit, Junior Hit, and Beauty Hit lines. Project V creates innovative products that help people take care of their health and beauty, live a full life, and improve its quality. Project V is a great way for everyone to extend active longevity and become happy. We plan a 150 million Euros turnover in 2025, covering 25 countries, and these figures will double by 2030. Our products will grow in the same period from 100 to 150.

You recently opened a new office in the UAE. How do you plan to differentiate yourself against dominant local players in the region?

Our presence in the UAE is part of our broader strategy to strengthen our regional footprint. While there are many established players in the market, we differentiate ourselves by focusing on sectors that have the potential for high-value transformation, such as next-gen healthcare solutions and AI-driven technology. We are also committed to leveraging our international expertise to foster cross-border collaborations and bring global best practices to the local market. By focusing on these emerging sectors and delivering tailored solutions, we aim to carve out a unique position in the UAE market.

FIG has a presence in 19 countries, but not yet in Saudi Arabia. Is entering the Saudi market part of your growth strategy?

Yes, Saudi Arabia is certainly on our radar. The Kingdom is undergoing a major transformation under Vision 2030, and the opportunities in healthcare, technology, and tourism are vast. While we currently don’t have a physical presence in the market, we are actively monitoring investment opportunities and partnerships that align with our core areas of expertise. As the Kingdom continues its diversification efforts, we are exploring the right time and the best way to enter the market, ensuring that we contribute meaningfully to its ambitious goals. Some of our projects can perfectly suit the giga-projects that the MBS is building, and we will successfully integrate our nutraceuticals into those projects, with the Firstline to their giga malls, hotels and hospitality, etc. Firstline is a digital space where each business competes for existing and potential clients. For users, Firstline is a mobile app that makes it convenient to truly find the best spots in their town, to purchase at great prices, and to earn extra revenue, including on the purchases of their friends. The total investment in the project has already exceeded $7 million. The plan is, over the next 3 years, to scale the project in all 17 countries where the Freedom International Group investment holding is represented. We plan to reach 17 countries by 2026 with a turnover of 50 million dollars, and 45 countries in 2030 with an annual turnover of 200 million dollars. We will rapidly achieve 100,000 users and 5,000 businesses, and later evolve towards neuro-personalization with tailor-made content for each user.

How do you assess the GCC's overall competitiveness compared to other emerging markets you operate in?

The GCC is a highly competitive and dynamic region, with significant advantages in terms of infrastructure, access to capital, and strategic location. Compared to other emerging markets, the GCC benefits from stable governance, progressive regulatory frameworks, and a commitment to diversifying its economies. These factors make the region an attractive destination for investors and entrepreneurs. While other emerging markets also offer compelling opportunities, the GCC stands out due to its progressive approach to innovation and economic development. Personally, I found it easy to meet anyone; everyone is open and ready to listen to new ideas and projects, and is open and excited to take risks. This is something we believe differentiates the region. 

Dubai has long been the regional business hub. Do you see other GCC cities catching up in terms of investable infrastructure?

While Dubai remains a key business hub, we are seeing other GCC cities like Riyadh and Muscat making significant strides in terms of infrastructure and investment opportunities. For instance, Riyadh’s push to become a global tech and innovation center is gaining momentum, while Muscat is positioning itself as an emerging hub for tourism and hospitality. We see tremendous potential in these cities, and as FIG continues to expand, we are actively considering opportunities in these locations, which offer unique advantages for businesses and investors alike.

Saudi Arabia represents almost 50% of the GCC’s GDP. Does the pace of the Kingdom’s economic diversification align with global investors’ expectations?

The pace of Saudi Arabia’s economic diversification is impressive and aligns with the expectations of many global investors. The Kingdom’s ambitious Vision 2030 is reshaping the economy, focusing on key sectors such as renewable energy, technology, healthcare, and entertainment. This transformation is creating a wealth of new investment opportunities, and we are seeing increased interest from both regional and international investors. While challenges remain, particularly around implementation, the Kingdom’s commitment to opening up new markets and fostering innovation positions it well for future growth. As a global investor, we are confident that Saudi Arabia will continue to be a key player in the regional and global economy.

Ghada Ismail

Ever felt like investing is only for people in suits talking about markets over coffee in high-rise offices? Think again. Today, all it takes is a few riyals, a smartphone, and a bit of curiosity. Welcome to the world of micro-investing, where even SAR 5 can be the start of something big.

From students saving for future travels to young professionals building a financial cushion, Saudi youth are embracing a fresh way to grow their money. It’s smart, simple, and fits in your pocket (literally).

In an age where a few clicks can summon a ride, order a meal, or stream a movie, why shouldn't building wealth be just as effortless, especially for the next generation? For today’s youth, the concept of investing is no longer confined to Wall Street veterans or finance majors. With the rise of micro-investing platforms, even a teenager with a smartphone and a few spare riyals can begin planting the seeds of financial independence. As traditional barriers to entry crumble—high capital requirements, complex jargon, intimidating brokers—a new wave of digital tools is making investing accessible, educational, and even fun. In Saudi Arabia and beyond, young people are not just spending money; they're learning to grow it, one micro-investment at a time.

What’s Micro-Investing, Anyway?

Micro-investing is a financial strategy that allows individuals to invest small amounts of money, often as little as a few riyals or dollars, into stocks, Exchange-Traded Funds (ETFs), or other assets, typically through mobile apps. Unlike traditional investing, which often requires large sums and expert knowledge, micro-investing breaks down these barriers by enabling users to round up spare change from everyday purchases or make small, recurring contributions. Micro-investing lets users invest tiny amounts—think the spare change from your daily gahwa—into diversified portfolios. It's designed to be beginner-friendly, turning investing from something intimidating into a daily habit.

The goal isn’t to get rich overnight, but to build wealth gradually, develop smart financial habits, and make investing part of everyday life. For young people, it’s an easy entry point into the world of finance; low risk, low cost, and high potential for long-term learning and growth.

Who’s Leading the Way in Saudi Arabia?

The Kingdom’s fintech scene is buzzing with innovation, and micro-investing is quickly catching on. Here are a few players making it happen:

• Wahed Invest: A Shariah-compliant robo-advisor offering low minimum investments, perfect for beginners who want halal options.
• meem Digital Banking by Gulf International Bank: Digital banking meets investment access with an app tailored for the tech-savvy.
• Mal: A homegrown, SAMA-licensed platform designed to simplify investment for everyday Saudis. With a strong focus on Shariah compliance and financial education, it’s an ideal entry point for young users wanting to invest in line with their values.
• Raqamyah: While technically a peer-to-peer lending platform, Raqamyah opens the door for youth to invest in SMEs starting from SAR 1,000. It’s a more hands-on model, perfect for those eager to support local entrepreneurship while earning steady returns.
• Thndr (coming soon to KSA) – Already popular in Egypt for its zero-minimum investing and Gen Z-friendly interface, Thndr is eyeing Saudi expansion. Its accessible design and emphasis on financial literacy could make it a major player once it lands.

These platforms are bringing investing closer to the youth—on their terms, in their language, and through the devices they use daily.

Why the Buzz Among Youth?

• It’s Easy: Download an app, answer a few questions, and you’re in. No suits, no jargon.
• It’s Affordable: Start with pocket change instead of waiting to “have enough.”
• It Feels Good: Watching your money grow—even slowly—is addictive in the best way.
• It’s in Arabic: More platforms are catering to local culture and language, making the experience feel less foreign.

And let’s not forget the rise of Saudi financial influencers who are turning investing into snackable, relatable content on TikTok and Instagram.

But It's Not All Glamorous

Sure, it’s fun—but it’s not magic. Some misconceptions to clear up:

• Returns aren’t instant—this isn’t a shortcut to being rich.
• Risk still exists—even SAR 5 can go down in value.
• More Arabic-first tools are needed—some platforms still favor global interfaces and products.

However, awareness is growing, and regulators like SAMA and the CMA are moving fast to encourage innovation while protecting users.

Riyal by Riyal, You're Building a Habit

So, the next time you think investing is too complicated or too expensive, remember: your future portfolio might just start with that loose change sitting in your wallet. In a country driven by bold vision and youthful energy, micro-investing is your chance to turn small steps into big wins.

It’s not about becoming a millionaire overnight; it’s about becoming smarter with your money every day.
Why wait for “someday” when you can start with SAR 5 today?

Kholoud Hussein 

In the not-so-distant past, launching a billion-dollar startup required teams of engineers, layers of management, and years of grueling development cycles. But artificial intelligence is rewriting that playbook—and perhaps the entire logic of scale in tech entrepreneurship. Today, a single founder armed with advanced AI coding tools can realistically build and scale a company to unicorn status.

From Code to Company: What’s Changed?

AI-assisted development tools like GitHub Copilot, Replit Ghostwriter, and open-source models such as Code Llama and StarCoder have reduced the time and expertise needed to ship high-quality software. Tasks that once required entire departments—UI design, code debugging, documentation, even marketing content—can now be streamlined or automated using AI.

As a result, the cost of iteration has plummeted. A solo founder no longer needs a CTO, product manager, or even a full-stack engineer to test an idea, launch an MVP, or scale a product. The barrier to building has shifted from technical capability to imagination and execution.

Why It Matters for the Startup Ecosystem

This paradigm shift opens the door to a new kind of lean startup—hyper-efficient, AI-augmented, and capable of exponential growth without the traditional burn rate. Investors are taking note: seed rounds are increasingly funding one-person teams with bold visions and AI-native toolsets.

We're witnessing the early signs of what could be a profound restructuring of startup dynamics. The concept of "unicorns with skeleton crews" is no longer theoretical. AI not only democratizes access to tech development, but it also questions how many people are truly needed to build world-changing products.

Real-World Signals

In 2024, multiple startups reached multimillion-dollar valuations with teams of fewer than five people. One standout example is a solo founder in Europe who used open-source AI models and no-code platforms to build a SaaS company that now serves over 100,000 users, without a single hire.

Tech giants are also embracing this trend. Google and Meta are investing in AI agents and developer tools that could soon enable even more automation in software lifecycles, further pushing the limits of what a solo entrepreneur can achieve.

The Challenges Ahead

Of course, there are caveats. Scaling beyond product-market fit still requires human capital—customer service, sales, operations, and compliance. And with AI-generated code comes new risks: security vulnerabilities, ethical blind spots, and IP ambiguity.

But the trajectory is clear: AI is turning individuals into teams, and teams into outliers. What this means for employment in tech, organizational design, and investment strategies is yet to be fully understood, but the disruption is underway.

Finally, the one-person unicorn may not yet be mainstream, but it's fast becoming a symbol of what’s possible in the AI economy. As tools evolve and adoption accelerates, we’re entering an era where the limits of company building are no longer defined by headcount, but by vision, speed, and strategic use of artificial intelligence.

The billion-dollar startup of tomorrow might be built not by a hundred engineers, but by one founder and a constellation of AI copilots.

Kholoud Hussein

Saudi Arabia’s startup ecosystem is undergoing a seismic shift—and at the center of this transformation are family offices, once risk-averse entities that are now actively funding innovation. In a region traditionally dominated by oil wealth and conservative asset allocations, family-owned conglomerates are beginning to see the long-term strategic value of investing in startups. As the Kingdom aggressively pursues economic diversification under Vision 2030, family offices are stepping up with capital, networks, and strategic support—playing a growing role in nurturing local innovation and technology.

In 2023 alone, startups in Saudi Arabia raised over $1.38 billion across 144 deals, according to MAGNiTT. While government-backed initiatives like the Public Investment Fund (PIF) and institutions such as the Saudi Venture Capital Company (SVC) have played a critical role, an increasing share of early- and growth-stage funding is now coming from wealthy family offices with deep roots in the Kingdom’s industrial and trading history.

These families—who once dominated sectors like construction, hospitality, and retail—are now investing in fintech, healthtech, e-commerce, and clean energy startups. Their participation is reshaping how capital flows in the region, breaking away from reliance on state-backed entities and fostering a more dynamic, private sector–led innovation economy.

As Abdulrahman Tarabzouni, CEO of STV (Saudi Technology Ventures), put it: “We’re seeing a historic shift. Family offices that once waited for proven opportunities are now joining in early—building the ecosystem from within rather than watching from the sidelines.”

A New Investment Paradigm

Historically, Saudi family offices have favored stable asset classes such as real estate and fixed income. However, a recent report indicates that 58% of MENA family groups are now active in venture capital, with 50% engaging in early-stage investments like angel and seed funding, and another 50% participating in growth-stage opportunities. 

This transition is largely attributed to the younger generation of family office leaders who are more tech-savvy and open to innovation. Paula Tavangar, Chief Investment Officer at Injaz Capital, notes, “Younger family members are more tech-savvy and comfortable investing in emerging technologies.” 

Strategic and Sector-Specific Investments

The Saudi family office model is rapidly evolving. For decades, these offices primarily focused on wealth preservation, allocating capital into predictable, lower-risk investments such as real estate, public equities, and fixed-income instruments. But in recent years, especially post-pandemic, a confluence of generational change, macroeconomic pressure, and government incentives has pushed many of them toward venture capital.

A 2024 report by Strategy& Middle East (PwC) found that 58% of family offices across the Gulf are now active in startup investments, with nearly half of those involved in early-stage funding. In Saudi Arabia specifically, these investments are no longer seen as speculative side projects—they are becoming central to long-term strategic planning.

Part of the shift is generational. Younger members of Saudi business dynasties, often educated abroad and exposed to global tech trends, are influencing investment priorities. These new decision-makers are more comfortable with higher-risk, higher-reward asset classes. They’re also keen to support local entrepreneurship and position their families as drivers of economic transformation.

“We’re no longer just buying land or stock portfolios,” said Lina AlMaeena, a board member of one of Saudi’s prominent family businesses and a vocal advocate for tech innovation. “We’re building the next generation of Saudi industry—from fintech to agritech.”

Another factor is alignment with Vision 2030, the Kingdom’s national transformation plan. Family offices are increasingly directing capital into sectors prioritized by the government, such as health, renewable energy, education, logistics, and tourism—leveraging both their capital and their business networks to help these sectors grow. Some are even partnering with government accelerators and sovereign funds to co-invest in Saudi-born startups.

One standout example is Rassanah Capital, a family office that has co-invested in logistics startup Barq EV, a last-mile electric delivery vehicle company, and Chefz, a food delivery app acquired by Jahez. Their investments aren’t just financial—they bring operational support, market access, and even board-level guidance.

Furthermore, the investment structures themselves are changing. While traditional venture capital often relies on fund vehicles with defined horizons and return targets, Saudi family offices prefer more flexible, direct investments. This gives them control, agility, and often better alignment with founders over the long term.

“These aren’t VC tourists,” said Paula Tavangar, Chief Investment Officer at Injaz Capital. “They’re building conviction in specific sectors and doubling down. They care less about ten-year IRRs and more about legacy, influence, and national impact.”

Strategic and Sector-Specific Investments: Aligning with Vision 2030

Saudi family offices are increasingly channeling investments into sectors that align with the Kingdom's Vision 2030 objectives, focusing on areas such as fintech, artificial intelligence (AI), enterprise software, and small-to-medium enterprises (SMEs). This strategic alignment not only supports national economic diversification goals but also leverages the unique strengths and interests of these family-run entities. 

In the fintech sector, Saudi Arabia has emerged as a regional leader, capturing 58% of all fintech venture capital in the Middle East and North Africa in 2023. The Kingdom's robust national strategy aims to establish 525 fintech companies by 2030, positioning it as a hub for financial innovation. Tushar Singhvi, Deputy CEO of Crescent Enterprises, emphasized this trajectory: “Saudi Arabia’s fintech sector is set for sustained growth, driven by a clear national strategy to have 525 fintech companies by 2030.” 

Family offices are also making significant inroads into the AI sector. The Public Investment Fund (PIF) announced plans to create a $40 billion fund focused on AI, signaling a commitment to becoming a global leader in this domain. Yasir Al-Rumayyan, Governor of PIF, stated: “Our goal is to position Saudi Arabia at the forefront of technological innovation. By investing in AI and other emerging technologies, we are not only diversifying our economy but also creating opportunities for future generations.” 

Enterprise software is another area attracting attention. As Saudi companies scale up and strive for global competitiveness, there is a growing demand for enterprise systems to support digital transformation efforts. Khaled Talhouni, Managing Partner at Nuwa Capital, observed: “We are seeing more and more SaaS (Software as a Service) companies emerge from the region and the Kingdom.” 

The SME sector has also experienced impressive growth, largely driven by government support and Vision 2030 initiatives. As of the fourth quarter of 2023, the number of SMEs in the country reached 1.31 million, reflecting a 3% quarter-on-quarter increase. Ibrahim AbdelRahim, Managing Partner at Moonbase Capital, highlighted this trend: “This marks a staggering 179% increase in SME numbers over the last eight years. While most of these SMEs are micro-sized, they are well-positioned for further growth.” 

Family offices are recognizing the potential of these sectors, not only for financial returns but also for contributing to the Kingdom's broader economic transformation.

Direct Investments and Co-Investment Models

Unlike traditional venture capital funds, many Saudi family offices prefer direct investments or co-investment models. Achal Aroura, Head of Multi-Family Office EMEA at Klay Capital Limited, explains, “These investments are not seen as traditional venture capital investments, but rather strategic investments made by these families and their existing businesses.” 

This approach allows family offices to maintain control and align investments closely with their business operations. It also facilitates quicker decision-making and the ability to provide more than just capital, such as strategic guidance and industry connections.

Impact on the Startup Ecosystem

The influx of family office capital is having a profound impact on Saudi Arabia’s startup ecosystem. Startups benefit from not only the financial investment but also the strategic support and industry expertise that family offices bring. This support is crucial for startups aiming to scale and navigate the complexities of their respective industries.

Moreover, the involvement of family offices is encouraging a more robust and diversified venture capital environment in the Kingdom. Their participation is attracting international investors and signaling confidence in Saudi Arabia’s commitment to fostering innovation and entrepreneurship.

Challenges and Considerations

Despite the positive trends, challenges remain. Family offices often lack the infrastructure to efficiently evaluate and structure deals, which can hinder their ability to capitalize on investment opportunities. Additionally, the preference for control and long-term investment horizons may conflict with the typical venture capital focus on short-term returns and exits.

To address these challenges, some family offices are collaborating with specialized venture capital firms and incubators to gain access to curated deal flows and institutional expertise. This hybrid approach allows them to balance control with the benefits of professional venture capital management.

Future Outlook: Sustaining Momentum and Navigating Challenges

The trajectory of family office investments in Saudi Arabia's startup ecosystem is poised for continued growth, underpinned by supportive government policies, a burgeoning entrepreneurial culture, and the strategic realignment of family-owned capital.

Looking ahead, several factors are expected to influence this landscape:

1. Enhanced Regulatory Frameworks: The Saudi Capital Market Authority (CMA) is focusing on developing the sukuk and debt instruments market by creating regulatory frameworks for green, social, and sustainable debt instruments. This aligns with the global push toward environmental, social, and governance criteria, potentially attracting more family offices interested in sustainable investments. 
2. Increased Institutional Collaboration: Family offices are anticipated to deepen collaborations with institutional investors, venture capital firms, and government-backed entities. Such partnerships can provide access to curated deal flows, shared due diligence resources, and co-investment opportunities, enhancing the overall investment ecosystem.
3. Focus on Impact Investing: There is a growing interest among family offices in impact investing, aligning financial returns with social and environmental outcomes. This trend is expected to gain momentum, particularly in sectors like education, healthcare, and renewable energy, which are central to Vision 2030.
4. Talent Development and Succession Planning: As younger generations take the helm of family offices, there is an increased emphasis on professionalizing operations, implementing robust governance structures, and investing in talent development to ensure sustainable growth and effective succession planning.

In conclusion, the rise of family office capital in Saudi Arabia's startup ecosystem marks a transformative shift in the Kingdom's investment landscape. By embracing strategic, sector-focused investments and adopting flexible investment models, family offices are playing a pivotal role in shaping the future of innovation and entrepreneurship in Saudi Arabia.

Ghada Ismail

Imagine a world where your child can earn, save, and spend money digitally, without needing cash. What if they could manage their allowance, set savings goals, and even learn the basics of budgeting and investing, all while having fun? This is not a future vision but an emerging reality with fintech for kids. 

The fusion of financial technology and education is transforming the way children learn about money, and Saudi Arabia is at the forefront of this revolution. Through innovative digital platforms, kids in the Kingdom are becoming more financially aware at an early age, preparing them for a future that’s as digital as it is financially complex.

What is Fintech for Kids?

Fintech for kids refers to digital tools, apps, and platforms that allow children to engage with money management in a safe, controlled, and fun environment. These tools enable kids to:

• Manage virtual accounts.
• Track their spending.
• Set savings goals.
• Learn financial responsibility in a digital space.

Verity: Leading the Regional Movement

While Saudi startups are still exploring their entry into kid-focused fintech, regional pioneers like Verity are setting the tone.

Headquartered in the UAE, Verity is the first family banking and financial literacy app in the MENA region. It’s designed for children aged 8 to 18 and offers a fully integrated digital money experience under parental supervision.

Using the app, parents can set chores, send allowances, and monitor spending in real time. Kids get to track savings goals, manage their own budgets, and make purchases using a personalized prepaid Visa card.

Built in partnership with NymCard and Visa, Verity offers a unique combination of real financial access and gamified education, a concept that could thrive in the Saudi market, especially if localized with cultural and regulatory nuances in mind.

STC Pay – Family Cards (Bahrain)

STC Pay offers a "Family Cards" feature in Bahrain, allowing account holders to issue prepaid cards for family members, including children aged 8 to 17. These cards enable parents to transfer allowances, set spending limits, and track usage. While this feature is currently available in Bahrain, it is not yet offered in Saudi Arabia.

Egypt: A Regional Case Study in Youth Fintech

Neighboring Egypt has become an unlikely pioneer in kid-focused fintech, offering lessons and inspiration for Saudi innovators.

Masroofi
Egypt’s first e-wallet for children aged 5 to 15, Masroofi lets parents manage digital allowances and oversee spending through a secure app paired with a prepaid card. It’s a fully cashless system built for school-age children and their families.

Ingiz
A gamified money management platform, Ingiz collaborates with Mastercard to deliver smart spending tools and financial education to teenagers. The app includes missions and reward systems, encouraging kids to develop strong financial habits.

Mini Money
Created by AUC students, Mini Money uses interactive challenges to teach financial basics like budgeting and saving. It appeals to younger children and integrates with educational initiatives.

FinYology
An initiative by the Central Bank of Egypt and the Egyptian Banking Institute, FinYology introduces fintech and digital literacy at the school and university level, seeding the ecosystem from the ground up.

Together, these examples show how strategic support—whether from startups, banks, or regulators—can create real impact at scale.

Key Saudi Players in Fintech for Kids

1. Cashee – A Digital Banking App for Teens

Cashee is a mobile banking app tailored for kids and teens aged 6 to 18. It offers a free mobile app and a prepaid Visa card issued by Arab National Bank (ANB). The app allows parents to transfer money to their children, reward them for challenges, and set flexible spending controls. Cashee aims to empower youth to create better money habits through its platform.

2. ZakiPay – Kids Debit Card

ZakiPay provides a free kids debit card in Saudi Arabia, enabling children to make decisions about spending, saving, or donating money. This initiative encourages financial independence and responsibility from a young age.

The Benefits of Fintech for Kids in Saudi Arabia

Here’s how fintech for kids is benefiting the younger generation in the Kingdom:

• Early Financial Education:
  • Kids in Saudi Arabia are learning about budgeting, saving, and investing using interactive tools.
  • Platforms like Cashee and ZakiPay integrate learning with practical money management experience.
• Parental Control and Guidance:
  • Parents can monitor and set limits on their children’s spending and savings, ensuring financial education is guided and secure.
  • This fosters a sense of responsibility while maintaining a safe financial environment.
• Learning Through Digital Experiences:
  • Gamified features on kids' fintechs make financial learning fun and engaging.
  • Kids unlock rewards by achieving savings goals or completing financial challenges.
• Preparing for a Cashless Future:
  • As Saudi Arabia moves towards a cashless economy, fintech tools prepare kids for digital wallets and online payments.
  • These platforms offer practical experience with digital money, laying the foundation for a future where cash transactions are rare.

Challenges to Consider

While fintech for kids offers great potential, there are a few challenges that must be considered:

• Data Privacy and Security:
  • Protecting children’s personal and financial data is paramount. It’s essential that fintech companies comply with strict privacy regulations to ensure children’s information is safe.
• Supplementing Digital Education with Real-World Conversations:
  • While fintech tools provide valuable hands-on experience, they should not replace meaningful discussions about money at home.
  • Parents need to continue reinforcing the broader principles of financial responsibility alongside digital tools.

Conclusion: The Smartest Investment Starts Young

The future of money is digital, and it’s arriving faster than ever. But the real innovation lies in preparing the next generation to handle it.

Kid-focused fintech isn’t just a trend; it’s a long-term investment in economic literacy, family empowerment, and national progress. As Saudi Arabia nurtures a thriving fintech ecosystem, one thing is clear: raising financially smart kids today could be the Kingdom’s most valuable asset tomorrow.

Because in a world where money moves with a tap, teaching children how to manage it might just be the smartest move of all.