YAP Digital Bank app plans to expand to Ghana with $41m fundraising

Saudi companies Aljazira Capital, Abu Dawood Group, Astra Group, and Audacia Capital have invested $41 million in UAE-based fintech company YAP.

YAP is a digital banking application that was created in 2021 by Marwan Hashem and Anas Zaidan. It offers customer spending data as well as ways to send money, settle accounts, and complete transactions.

To complete its Series A by the end of the year, YAP plans to raise additional money $20 million. With this money, he will be able to expand his banking application to Saudi Arabia, Egypt, Pakistan and Ghana.

The fintech launched a digital banking platform last year, which now has more than 130,000 users. The app provides a comprehensive view of a consumer’s spending analysis and ways to transfer money, pay bills, and make purchases. Users are not required to maintain a minimum balance on their accounts.

The new investment came from Aljazira Capital of Saudi Arabia alongside other investors including Abu Dawood Group, Astra Group, and Audacia Capital, the company said in a statement Monday.

He said he associated with Al Jazeera Bank to launch its consumer and commercial platforms in Saudi Arabia and has received regulatory approval in Pakistan and Ghana to offer similar services. It also plans to launch in Egypt soon.

Source: BollyInside

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