Ruba announces pre-seed funding round with an aim to make education accessible to all
- Date: 17-Oct-2022
- Source: Zawya
- Sector:Financial Services
- Country:Kuwait
Ruba announces pre-seed funding round with an aim to make education accessible to all
Kuwait. FinTech startup Ruba, a platform that aims to make education accessible to all, announced that it has raised an undisclosed amount in an oversubscribed pre-seed funding round.
About the space
Ruba addresses a pain point in relation to school fees. Currently parents pay hefty tuition fees over 2 to 3 installments every school year, which in many cases results in cash flow stress. Ruba provides them with a convenient, seamless and fully-digital option of paying monthly over up to 12-months, at zero cost.
By having a convenient and flexible financing solution, parents can now pay in line with their monthly cashflow, which will in turn eliminate any manual collection headache or risk for schools. A win-win solution for all.
As per The Boston Consulting Group, the GCC private education market is growing exponentially, with an expectation to reach $26 Bn by 2023.
About the founders
Ruba was founded in November 2021 by three Kuwaiti entrepreneurs, Ameen Nadoom, Fawaz Al-Rashdan and Menawer Al-Azmi. Their collective experience covers Management Consulting, Banking, Telco and Retail in the GCC and North America.
Founders quotes
“Parents are seeking to invest in a better future for their kids and schools want to focus all their efforts on providing high quality education. That’s exactly