Tuesday May 21st, 2024
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Kids Mobile Banking App Cashee to Launch in Saudi Arabia

The app bills itself as a ‘banking and financial education platform’, giving young people financial independence.

Scene Now Saudi

Kids Mobile Banking App Cashee to Launch in Saudi Arabia

Independent mobile banking app Cashee, designed for kids and teenagers, is preparing to launch in Saudi Arabia, aiming to empower youth within the Kingdom to create better financial habits. The application bills itself as a ‘banking and financial education platform’, offering prepaid Visa cards to account holders aged six to 18 years old, alongside the integrated mobile app.

Cashee itself is not a bank, but rather a technology company, and as such is backed by the Saudi-based Arab National Bank (ANB), which is responsible for issuing cashew cards. AND was an early investor in the fintech startup, becoming a stakeholder in 2022 when it led a USD 3 million funding round.

The app is currently available on an invite-only basis on app stores, with a broader market roll-out expected imminently, available in both English and Arabic.

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