UAE-based fintech YAP secures $41 million in funding

Oluwajuwonlo Afolabi -

Fintech startup based in the UAE, YAP, has secured $41 million as part of its Series A funding round to support its expansion plans.

  • The fund will help the financial technology startup expand its services in Saudi Arabia, Egypt, Pakistan, and Ghana.
  • YAP provides smart financing for its customers via money transfer, purchases, bills payment, virtual cards, card control and access to spending analytics.
  • The startup launched its digital banking offering last year and now has over 130,000 users.
  • Aljazira Capital, Abu Dawood Group, Astra Group, and Audacia Capital invested in the round, with YAP looking to add $20 million to its Series A raise by the year-end.