UAE-based Fintech Fortis Targets Saudi Arabia’s SME Sector

UAE-based Fintech Fortis Targets Saudi Arabia’s SME Sector

UAE fintech leader Fortis is making a strategic move furthermore, entering Saudi Arabia to support its booming SME sector. Their suite of business solutions, including a one-stop point-of-sale system, customer relationship management (CRM) software, order management system, and advanced payment solutions, aims to supercharge SME growth.

 

Boosting Efficiency and Growth with Fortis

Fortis offers a comprehensive package, essentially a one-stop shop for SMEs. This integrated suite streamlines operations, enhances customer interactions, and ultimately drives business growth for SMEs.

Fortis Aligned with Vision 2030

Fortis’s expansion aligns perfectly with Saudi Arabia’s ambitious Vision 2030 plan. This national strategy emphasizes economic diversification and the development of a robust private sector, with SMEs playing a critical role. As Arseny Kosenko, Executive Vice President of Fortis, highlighted in a recent interview, “We will be able to assist small businesses in growing in line with the plans and Vision 2030.”

Strategic Launch and Regional Expansion

Importantly,Fortis’s initial launch in the UAE strategically positions them for further expansion into Saudi Arabia and other MENA (Middle East and North Africa) countries. Their goal is to not only enhance SME operations but also contribute to the overall growth of Saudi Arabia’s GDP and technological landscape.

Supporting SMEs Beyond Borders

Fortis recognizes the importance of catering to both domestic and international customers, particularly during major events like Expo 2030. Their advanced omnichannel solutions facilitate seamless interactions between merchants and customers, ensuring a positive experience for all.

Tailored Solutions for the Saudi Market

Understanding the unique needs of the Saudi market is paramount for Fortis. They are actively developing features that comply with local regulations, including adaptations in pricing, marketing strategies, and partnerships. Additionally, the company prioritizes continuous monitoring of regulatory changes and ensures their team receives proper compliance training. Technology and automation play a key role in facilitating these processes efficiently.

Bridging the Gap Between Businesses and Customers

In addition to, Fortis envisions their platform as a central hub that seamlessly connects merchants and customers. Kosenko emphasizes the significance of SMEs, stating, “SMEs are a crucial segment for us, and how they engage with their clients shapes the evolution of our product.” By empowering businesses with digital tools that boost customer engagement and operational efficiency, Fortis is well-positioned to become a leader in the Saudi Arabian market.

Growth and Investment

Despite its recent entry into the market, Fortis is already experiencing impressive revenue growth. The company secured a significant investment of $20 million from Opportunity Venture in April 2024 to support its expansion plans across the MENA region. Saudi Arabia, with its large market size and numerous development projects, is a key focus area for Fortis’s growth strategy.

Fortis is Driving Innovation and Transformation

Fortis positions itself as a key player in Saudi Arabia’s digital transformation. By empowering SMEs, they contribute to economic diversification and a stronger business landscape. As Fortis expands, they are set to significantly impact the region’s SME sector, driving innovation and growth.