Priya Patel
TLDR:
- Cashee, a mobile banking app for kids and teens, is launching in Saudi Arabia.
- Founded in 2020, the start-up offers a free mobile app and prepaid Visa card for youth aged 6 to 18.
A new mobile banking app, Cashee, is set to debut in the Kingdom of Saudi Arabia (KSA), aimed at children and teenagers. The start-up, founded in 2020 by Smeetha Ghosh, Brad Whittfield, and Gups Jutla, focuses on providing banking and financial education for the youth, with a goal of instilling better money habits. Although it is not a bank but a technology company, Cashee is backed by Arab National Bank (ANB), one of the largest banks in the Middle East.
The app, which is currently invite-only on the Apple App and Google Play stores in Saudi Arabia, will soon have a broader market rollout. ANB became an investor and stakeholder in Cashee in 2022 during a $3 million Series A funding round, following an initial $1 million raised in a pre-seed funding round. In early 2024, Cashee introduced a revamped brand identity and new product offerings available in both English and Arabic.
The COO of Cashee, Gups Jutla, expressed excitement about the launch in KSA, highlighting the market’s attractiveness and the company’s mission to be part of the market transformation. With a strong focus on financial literacy, innovation, and empowering young individuals, Cashee aims to make a mark in the world of personal finance for children and teens.
