Digital Consumer Finance Fintech Skyro Appoints Former Mastercard VP Maria Medvedeva as Middle East MD to Lead Saudi Expansion
Digital consumer finance platform Skyro has appointed former Mastercard executive Maria Medvedeva as its Managing Director for the Middle East. Medvedeva will spearhead the fintech’s regional expansion strategy, anchored by its market entry into Saudi Arabia.
The appointment comes as Skyro accelerates preparations to launch operations in the Kingdom. The company has established its regional office in Riyadh and initiated local recruitment while working to secure the necessary regulatory licenses and approvals from Saudi authorities.
Saudi Market Strategy & Regional Expansion
Following regulatory clearance, Skyro plans to introduce digital consumer financing and Small and Medium Enterprise (SME) lending solutions. The fintech aims to replicate and tailor its established Southeast Asian product ecosystem to meet the specific requirements of Saudi consumers and businesses.
Beyond Saudi Arabia, Skyro is evaluating entry points across other Gulf Cooperation Council (GCC) and Middle Eastern markets to capitalize on the rapid adoption of digital financial services and non-banking financial institutions (NBFIs).
The table below outlines Skyro’s core operational benchmarks and Middle East expansion roadmap:
DimensionStrategic & Operational Details
New AppointmentMaria Medvedeva, Managing Director for the Middle East
Middle East HubRiyadh, Kingdom of Saudi Arabia (Office open; hiring underway)
Target ProductsDigital consumer financing & SME credit solutions
Southeast Asia Track Record>$200 Million credit portfolio; >7 Million app users since 2022 launch
Regional FocusSaudi Arabia market rollout, regulatory licensing, and wider GCC expansion
Executive Background & Perspectives
Maria Medvedeva brings over seven years of executive leadership experience at Mastercard, where she served as Vice President managing portfolios across the MENA region, Saudi Arabia, and Bahrain. During her tenure, she played a key role in developing merchant and consumer payment technologies within the Saudi market.
"Since launching in Southeast Asia in 2022, Skyro has built a credit portfolio exceeding $200 million and scaled its user base to over 7 million app users. This growth propels our expansion into high-potential emerging markets. We have begun establishing our presence in Saudi Arabia and look forward to rolling out consumer and SME financing solutions upon regulatory clearance," stated Arseniy Lyamtsev, Co-Founder and CEO of Skyro.
"My primary mandate is to lead Skyro’s regional growth and establish a sustainable, long-term footprint in the Middle East. We are building dedicated local teams, forging trusted institutional partnerships, and designing tailored financial products that match the unique dynamics of each market," added Maria Medvedeva.
Skyro’s expansion aligns with the ongoing transformation of Saudi Arabia’s fintech landscape, aiming to broaden access to credit and collaborate alongside established financial institutions to support financial inclusion for individuals and enterprises.