- Cashee, a mobile banking app designed for kids and teens, is set to launch in the Kingdom of Saudi Arabia (KSA).
- Founded in 2020, Cashee has three co-founders: Smeetha Ghosh (CEO), Brad Whittfield (CFO), and Gups Jutla (COO).
- The app aims to serve as a banking and financial education platform, empowering youth to develop better money habits.
- Cashee will offer a free mobile app and a prepaid Visa card to youth aged six to 18 years.
- While Cashee is not a bank but a technology company, it is backed by Saudi Arabia-based Arab National Bank (ANB), which issues its cards.
- ANB became an investor and stakeholder in Cashee in 2022, leading a $3 million Series A funding round.
- Previously, Cashee raised $1 million in a pre-seed funding round.
- In early 2024, Cashee unveiled a revamped brand identity and a new product, available in both English and Arabic.
- The app is currently available on an invite-only basis in the Apple App and Google Play stores in Saudi Arabia, with a broader market roll-out expected soon.
- COO Gups Jutla expressed pride in the launch, emphasizing KSA’s significance as an attractive market and Cashee’s mission to be part of its transformation.
