Case Study
Zero to First Win in 9 Months: Accelerating a Fintech Startup's Saudi Market Entry
Client Profile:
Company
X company, fintech payment solutions startup
Challenge
Establishing presence, contacts, and credibility in Saudi Arabia
Industry
Financial Technology
Project
Government Digital Payment Gateway Initiative
The Challenge:
X company is bringing revolutionary blockchain-based payment technology but starting from zero presence in Saudi Arabia. They need to establish credibility, navigate complex financial regulations, identify the right first opportunities, and structure winning bids—all within aggressive timelines to capitalize on Saudi’s digital payment transformation.
Insitex's Solution: Executing Comprehensive Market Entry Roadmaps
Phase 1: Navigating Regulatory & Market Pathways
- Securing SAMA (Central Bank) pre-qualification as foreign fintech providers
- Guiding establishment of local entities with optimal shareholding structures
- Identifying and vetting local banking partners required for payment processing
- Achieving Etimad Level 3 registration ahead of schedules
Phase 2: Developing First Opportunity Strategies
- Mapping potential opportunities against client capabilities
- Recommending “sandbox” approaches: targeting pilot projects before major tenders
- Building relationships with key stakeholders across ministries
- Co-developing “Saudi-First” narratives emphasizing local data hosting
Phase 3: Executing Pilot Project Strategies
- Winning pilot projects for municipal payment digitization
- Structuring proof-of-concept implementations with scaling options
- Including local capacity-building commitments
- Building Saudi-specific case studies during implementations
The Results objectives:
- Securing first Saudi contracts
- Establishing reference cases using in larger tenders
- Building pipelines of qualified opportunities
- Recruiting and training local teams during implementations
Getting shortlisted for national digital projects
