Dubai’s digital-banking startup YAP raises $41mn to fuel growth plans

Dubai’s digital-banking startup YAP raises $41mn to fuel growth plans

Dubai-based YAP, the leading fintech revolutionizing the digital banking experience in the Middle East, Africa, and South Asia, has raised $41 million to fund its operations and growth.

The latest investment comes from Saudi Arabia’s Aljazira Capital alongside notable investments from Abu Dawood Group, Astra Group, and Audacia Capital. It plans to complete its Series A by the end of the year. More than 130,000 users have signed up for the app since its launch in 2021, a record number in the region.

In addition to the record number of users on the platform, YAP’s ability to be at the forefront of innovation and strategic digital advancement has led to a partnership with Bank AlJazira to launch its consumer and business banking platforms in Saudi Arabia. YAP has also received regulatory approval in Pakistan and Ghana to offer similar services in those countries and plans to soon launch in Egypt.

Marwan Hachem

Co-founder & Group CEO

YAP “YAP continues to redefine the fintech sector in the region and our robust product development pipeline reflects the growing needs of our customers. The interest that we have received from investors shows that there is a strong demand for fintech products, and we remain committed to making digital