The Forbes Middle East has revealed its annual Fintech 50 list. It recognizes the region’s leading trailblazers in the digital financial services sector as they navigate shifting consumer expectations in an increasingly digital landscape.
According to the source document, the companies ranked in Fintech 50 have collectively processed over $240 billion in transactions and secured more than $3.8 billion in total funding.
The ranking was determined based on external investment, total transaction volume, app downloads, active users, consumer impact, geographic footprint, and achievements in innovation, growth, and expansion over the past year.
Fintech entities affiliated with exchange houses, traditional banks, or government institutions were not considered.
After securing $160 million in a Series E funding round in February 2025, Saudi-based fintech giant Tabby propelled its valuation to $3.3 billion, making it the region’s most valuable fintech startup and earning it the top spot in the 2025 Fintech 50 ranking.
Egyptian e-payments pioneer Fawry lands in second place on the Fintech 50 list, backed by its 53.1 million-strong customer base. Saudi Arabia’s Insurtech and banking solutions firm Rasan follows in third, having gone public on the Saudi Exchange (Tadawul) in 2024, with a market cap of nearly $1.9 billion as of February 20, 2025.
The 2025 Fintech 50 list highlights companies from 11 countries and introduces 12 new entrants, including digital asset platform CoinMENA, U.A.E.-based Ziina, and Egypt’s Sahl.
The U.A.E. leads the ranking with 13 fintech firms, followed by Egypt (12) and Saudi Arabia (10), collectively representing 70% of the list.
Of the 50 listees, 14 were founded by solo entrepreneurs, making up 28% of the ranking.
Top 10 in Forbes’ Fintech 50 list
The list included two companies from Jordan, while Morocco, Oman, Yemen, and Tunisia each had one company represented in the ranking.
- At the top of the list is Tabby, a financial services and shopping app headquartered in Saudi Arabia.
- Following in second place is Fawry, an Egyptian digital payments platform.
- Rasan, a Saudi provider of banking and insurance solutions, secured the third position.
- It is followed by Wio Bank, a UAE-based digital banking platform, in fourth place.
- MyFatoorah, a leading Kuwaiti electronic payment solutions provider, ranked fifth.
- In sixth place is MadfoatCom, a Jordanian platform specializing in bill payments.
- Next is MNT-Halan, an Egyptian company offering lending, payments, and buy-now-pay-later services, in seventh place.
- The eighth spot went to Thndr, an Egyptian investment platform;
- While e& money, a UAE-based super app for financial services, ranked ninth.
- Finally, Valu, an Egyptian fintech company, secured the tenth position in the ranking
