We Got Funded: UAE-Based Youth-Focused Banking Platform Cashee Raises US$3 Million In A Series Round To Accelerate KSA Expansion

We Got Funded: UAE-Based Youth-Focused Banking Platform Cashee Raises US$3 Million In A Series Round To Accelerate KSA Expansion

Cashee, a UAE-based digital banking platform tailored for teenagers in the MENA region, has raised US$3 million in a Series A funding round led by Arab National Bank (ANB). With the capital infusion, ANB also acquires an undisclosed stake in the startup.

Founded in 2020 by Brad Whittfield and Smeetha Ghosh, Cashee is on a mission to encourage financial literacy and financial inclusion for youth in the MENA region. Headquartered in Dubai, Cashee offers a Visa prepaid card and digital banking applications (available for Android and and iOS devices) for teens aged 13 years and above. It also offers a digital knowledge platform for teens to learn personal finance skills and money management habits, whilst providing parental control over their children's transactions on its mobile applications.

Since its launch, Whittfield notes that app downloads in the UAE is approximately 90,000 with over 40,000 sign ups. In March of this year, the team also joined Visa International's Fintech Fast Track Program, enabling the startup to access Visa's global network.