01
Client context
The fintech had grown with e-commerce and B2B platform partners in its home market and was evaluating the Gulf region.
02
Business challenge
Regulation, partner landscape and borrower behaviour were unfamiliar, and leadership needed an evidence-based entry decision.
03
Research objective & questions
Assess market attractiveness, regulatory pathways, partner opportunities and the right entry model.
- How large is the opportunity for embedded credit in target verticals?
- What licensing or partnership routes are available?
- Which platforms and lenders could be partners?
- Who are the incumbents and how strong are they?
04
Methodology & approach
- Secondary and regulatory review
- Licensing frameworks and market structure.
- Expert interviews
- Banking, fintech and regulatory specialists.
- Partner interviews
- E-commerce, B2B marketplace and banking partners.
- Competitive landscape
- Embedded finance providers and their models.
05
Sample & geography
- ~12 expert interviews
- ~15 potential partner interviews
- Geography — United Arab Emirates and Saudi Arabia
06
Key findings
- A partnership with a licensed lender offered the fastest route to market.
- B2B marketplaces had stronger unmet demand than consumer e-commerce.
- Incumbents focused on consumer buy-now-pay-later, leaving B2B gaps.
- Local data and compliance requirements needed early investment.
07
Business implications
- Enter via a licensed-lender partnership focused on B2B marketplaces.
- Prioritise two anchor platform partners for pilots.
- Budget early for local compliance and data hosting.
08
Outcome
Leadership received a market prioritisation, partner shortlist and phased entry plan for board review.
Example engagement — Shows how Hoog approaches this type of question. Not a specific client project. Findings are directional.