The Yabi app has achieved success in its fundraising tour and is enhancing financial awareness within the Saudi community

With the successful inclusion of the ‘Alwafra Second Investment’ company in the investors’ list, Yabi app concludes its financing round, raising a total of 8 million US dollars. These funds will be utilized to enhance the application and bolster its expansion in regional markets.

Launched in Saudi Arabia last November, Yabi is a local application aimed at enhancing financial well-being by providing users with advice and tools for effective personal financial management. The app offers bi-monthly courses by local financial experts in both English and Arabic in the Kingdom, and it’s now available in the UAE and Saudi Arabia.

The company boasts an active presence and dedicated resources supporting its outreach. Yabi aims to promote financial literacy by assisting companies in incorporating this knowledge into their employee wellness programs.

Ambarin Musa, the founder and CEO of Yabi, explained, ‘We find tremendous inspiration in Vision 2030 for Saudi Arabia, which promises significant growth. Yabi aligns with this vision by promoting financial literacy and savings rates in the Kingdom.’

Musa added, ‘Financial literacy and individual participation in the economy are priorities for both public and private sectors, and as a company, we aim to bridge these gaps. Vision 2030 aims to increase homeownership to 70% and raise national savings levels, which is precisely what we strive to achieve.’

On the other hand, Salah Kashoggi, the chairman of ‘Alwafra Second Investment,’ stated, ‘Enhancing financial knowledge is crucial in enabling individuals to lead better lives. Yabi contributes to empowering individuals by disseminating financial knowledge, and our investment aligns with our efforts to elevate knowledge, enhance investments, and savings.’

Expectations are high for Yabi to achieve significant success in the future, and the increased support from companies like ‘Majid Al Futtaim,’ ‘Careem,’ ‘Shalhoub Group,’ and ‘Al Ghurair Company’ reflects that.

Yabi adopts a user-centric approach, as emphasized by Ambarin: ‘We recognize the Saudi community’s youthful nature and strong digital footprint. Our application is designed to meet the needs of this community and provide a convenient digital experience.’

These steps affirm Yabi’s commitment to elevating financial literacy and raising financial awareness, indicating the diligent efforts companies are making to support and empower the financial community in Saudi Arabia