Dubai-based digital banking start-up YAP lands $41 million to fund expansion

Dubai-based start-up YAP, which operates a digital banking app, has raised $41 million to fund its expansion in the Middle East, Africa and Pakistan, Zawya reports.
The investors include Saudi Arabia’s Aljazira Capital alongside Abu Dawood Group, Astra Group and Audacia Capital.
YAP, established last year, provides a complete view of a consumer’s spending analytics and ways to transfer money, pay bills and make purchases. It has more than 130,000 users.
The funding will be used to support its expansion and growth in Saudi Arabia, Egypt, Pakistan and Ghana.
The fintech company in a statement said it has partnered with Bank AlJazira to launch its consumer and business platforms in Saudi Arabia and received regulatory approval in Pakistan and Ghana to offer similar services. It also plans to launch in Egypt soon, Zawya reports.

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