Fintech companies are rapidly expanding in Saudi Arabia, with the nation becoming an increasingly attractive hub for financial technology. UAE-based Fortis is introducing its comprehensive point of sale, customer relationship management, order management system, and payments solution to support small and medium-sized enterprises (SMEs) in the Kingdom. Arseny Kosenko, Fortis’s executive vice president, highlighted the company’s goals in an interview with Arab News, emphasizing substantial growth potential aligned with Saudi Arabia’s Vision 2030. Fortis aims to enhance SME capabilities and contribute to the Kingdom’s economic diversification by providing high-quality products and services tailored to local needs.
Fortis plans to solidify its presence in the UAE and expand into Saudi Arabia and other Middle Eastern and North African countries. The company’s strategy involves adapting its omnichannel platform to comply with local regulations and business practices, ensuring effective partnerships, and leveraging advanced digital tools to empower SMEs. Kosenko noted the importance of aligning Fortis’s mission with Saudi Arabia’s initiatives to support SME financing and digital transformation. With a recent $20 million investment led by Opportunity Venture, Fortis is well-positioned to enhance its product development and market introduction, focusing on long-term growth and value creation for SMEs and larger stakeholders in the region.