Arab National Bank Launches Fintech Accelerator In The KSA
The program, launched in partnership with Plug and Play, is designed to fast-track the development of high-potential fintech startups and entrepreneurs in the Kingdom.
Saudi Arabia’s Arab National Bank (ANB) has launched the inaugural edition of its fintech business accelerator program, in partnership with the early-stage venture capital (VC) firm Plug and Play, with strategic support from Fintech Saudi, a Saudi national initiative to support fintech development, and Monshaat, the General Authority for Small and Medium Enterprises in Saudi Arabia.
The 12-week program reinforces ANB's commitment to advancing the fintech sector in the Kingdom, in alignment with the goals of the Financial Sector Development Program, a core component of Saudi Arabia’s Vision 2030.
The fintech accelerator is designed to fast-track the development of high-potential fintech startups and entrepreneurs in the Kingdom by providing them with valuable expertise and support to manage and grow their ventures. Participants will also have the chance to attract investment for their projects, boosting their capacity to innovate and scale their financial technology solutions.
Omar Al-Aqeel, CEO of ANB Digital Office, stated that launching the fintech accelerator under the ANB Innovate umbrella aims to empower and spark innovation among fintech startups. He emphasized that the bank would offer guidance and support to entrepreneurs in this field, drawing on its advanced technologies, deep expertise, and skilled workforce.
A representative from Plug and Play emphasized that the program aims to uncover fintech innovations and provide entrepreneurs and startups with opportunities to strengthen their capabilities, accelerate business growth, and achieve their goals. It will also connect them with local partner networks, including the digital solutions provider Visa, and global cloud computing platform Amazon Web Services (AWS).
The highest-performing company in the program will gain the opportunity to scale into international markets, monitor its business development progress, and engage with a broad network of partners in the technology and investment industries through the specialized Goal Program.
The program targets post-minimum viable product (MVP) pre-Series A startups generating revenue in the MENA region, with a clear commitment to expanding into Saudi Arabia.
Applicants will go through two screening rounds during the selection process. The first evaluates fit, traction, and team strength. Shortlisted startups will then sit through virtual interviews, and finalists will be selected ahead of the accelerator's official kickoff.
Delivered in a hybrid format, the program includes an onboarding week, 10 virtual focus weeks, an investor week, and an in-person demo day. Participants will be expected to commit around 6.2 hours per week throughout the program.
Interested and eligible candidates can apply here.
