UAE-based financial technology start-up and digital banking app YAP has raised $41 million as it seeks to expand into new markets and enhance its technology offerings.
The FinTech platform, which was launched in the UAE, in 2021, already has at least 130,000 users signed up on its app. It is the UAE’s first-ever digital banking application, and its growing wings will soon be extended to Ghana.
YAP can be downloaded on iOS and Android devices and provides spending analytics, card controls, money transfer and bill payment service, and real-time notifications of purchases, withdrawals, and transfers.
Marwan Hachem, the co-founder, and Group Chief Executive of YAP has reinstated that “YAP continues to redefine the FinTech sector in the region and beyond.”
“The interest that we have received from investors shows that there is a strong demand for FinTech products.”
“We look forward to expanding into new markets and enhancing our offering in the months ahead with these investments,” said Anas Zaidan, co-founder and managing director of YAP.
YAP has thereafter received regulatory approval in Pakistan and Ghana and plans to launch in Egypt soon.