THE CHALLENGE
A FinTech startup in Saudi Arabia had a compelling product, an interest-free installment payment solution for buyers and merchants in the Kingdom’s growing digital commerce market. The founding team had the vision and the technology. What they did not have was the financial infrastructure, regulatory approval, or the investor-ready financial model they needed to get off the ground. All three had to move at the same time.
SAMA does not give approvals easily. Seed investors ask tough questions. None of this could wait.
THE ENGAGEMENT
I came in as Fractional CFO with three things to deliver in parallel. First, building the accounting and reporting framework from the ground up — chart of accounts, financial processes, and management reporting structure built for a regulated FinTech business. Second, preparing and submitting the SAMA sandbox license application.
This is a rigorous process. Demonstrating business model compliance, viability, and risk controls to one of the region’s most demanding regulators requires real preparation and precision. Third, developing a financial model and business valuation that could hold up under tough questioning from seed investors and tell a credible growth story with assumptions that made sense.
THE OUTCOME
The startup received SAMA sandbox license approval, clearing the regulatory path to operate as a licensed FinTech in Saudi Arabia. The financial model supported a successful seed funding round of approximately $3 million, giving the business the capital foundation to build and scale.
The accounting and reporting infrastructure built during the engagement gave the business the financial discipline and regulatory compliance that growth-stage FinTech investors and regulators need to see from day one. The business was ready to scale.