Yabi Secures $8 Million in Seed Funding for Financial Well-being Platform

Souqalmal’s Yabi, a personalized finance well-being platform, has concluded its seed funding round, securing a total investment of $8 million. The recent addition of Al Wafra Al Thanya (Wafra II) to its investor base signals a focus on product development and expansion into regional markets.

Launched in Saudi Arabia in November, Yabi strives to empower individuals through customized financial education and resources. The platform delivers courses by Saudi market experts, with regular additions to content in both English and Arabic.

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Beyond content creation, Yabi demonstrates a commitment to the Saudi market by establishing a physical presence and allocating resources for strategic market penetration. The objective is to enhance financial literacy through B2B partnerships, encouraging companies to integrate financial education into their employee well-being programs.

Salah Khashoggi, Managing Director of Al Wafra Al Thanya, emphasizes the importance of spreading financial awareness and education. He sees Yabi as a frontrunner in leveraging technology to equip individuals with essential financial knowledge. The investment aligns with Wafra II’s core purpose of elevating financial education, promoting investments and savings, and contributing to Saudi Arabia’s digital GDP.

Yabi has already made inroads into the corporate sector, gaining traction with notable adopters like Al-Futtaim, Careem, Chalhoub, and Al Ghurair.