Dubai Fintech Startup YAP Raises $41 Million to Expand Regionally

Dubai-based digital banking startup YAP has secured $41 million in funding to support its ongoing expansion across the Middle East and Africa, with new market entries planned for Saudi Arabia, Pakistan, Ghana, and Egypt. The funding round was led by Saudi Arabia’s AlJazira Capital, with participation from Abu Dawood Group, Astra Group, and Audacia Capital.

Founded in 2021, YAP offers a digital banking platform that provides tools for budgeting, spending analytics, card controls, and real-time transaction notifications. Since launch, the app has attracted over 130,000 users. The start-up operates without a banking licence, instead partnering with traditional financial institutions to deliver its services.

As part of its expansion into Saudi Arabia, YAP is collaborating with Bank AlJazira to roll out consumer and business banking services. The company has also secured regulatory approval in Pakistan and Ghana, and is preparing to enter the Egyptian market. YAP’s product offering includes physical debit and prepaid cards, as well as virtual cards, tailored to streamline financial access in its target markets.

The company expects to close its Series A funding round by the end of 2025.