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Tribal Credit expands to empower SMEs in Saudi Arabia

By Delisha Fernandes

September 27, 2023

  • Corporate Cards
  • Financial Access
  • Financial Solutions

Tribal Credit, SMEs, financial access, financial solutions, financing gap, corporate cards, Saudi Vision 2030, FinTech news, FinTech Saudi ArabiaTribal Credit, a Silicon Valley FinTech company for SMEs, announced its strategic expansion in Saudi Arabia, aligning with Saudi Vision 2030 to promote financial access, SME competitiveness, and GDP growth and diversification.

The company sees Saudi Arabia as central to its global success and it would be using this milestone to accelerate growth globally. Additionally, Tribal aims to enhance mutual benefit from the current developments and advancements in the Kingdom to create more jobs and investment opportunities.

“We’re not just expanding to Saudi; it’s at the heart of our global success,” said Amr Shady, CEO of Tribal Credit. “We are harnessing the momentum of Saudi Vision 2030, the thriving IPO market and our internal readiness to strengthen our presence in the Kingdom and use it as a springboard for global expansion. We plan to IPO in the Kingdom in the next 3 years to accelerate our growth globally.

Working with several industry-leading investors like SoftBank, QED Investors, BECO Capital, Endure Capital, Stellar Development Foundation, and Coinbase Ventures, Tribal Credit provides innovative financial solutions to companies at various stages of their development.

This is aimed at bridging the financing gap for small and medium-sized enterprises. Tribal Credit designs specialized financing solutions for these companies, enabling them to achieve market excellence in both the domestic and global markets, thereby creating more job opportunities in the Kingdom.

Duane Good, COO of Tribal Credit, said “Saudi Arabia is pivotal to Tribal Credit’s global success and growth strategy. Saudi Arabia is a market with immense potential. It has a robust economy, and its Vision 2030 is perfectly aligned with our mission to empower SMEs.”

Tribal Credit’s expansion into Saudi Arabia will bolster this vision by addressing the financial needs of SMEs, a sector crucial for economic growth and diversification. Tribal Credit offers financial solutions which are specially designed to fulfill the needs of such companies and enable them to excel locally and globally.

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