Cashee, a mobile banking app for kids and teens, is gearing up for launch in the Kingdom of Saudi Arabia (KSA).
Founded in 2020, the start-up has three co-founders: Smeetha Ghosh (CEO), Brad Whittfield (CFO), and Gups Jutla (COO).
Cashee describes itself as “a banking and financial education platform” and says it’s “empowering youth to create better money habits”.
Once launched, it 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, one of the largest banks in the Middle East, became an investor and stakeholder in the start-up in 2022, when it led a $3 million Series A funding round. Prior to that, Cashee raised $1 million in a pre-seed funding round.
In early 2024, the start-up unveiled “a fresh chapter for Cashee with our revamped brand identity and 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 imminently.
“After three years in the making, we are proud to announce that we have successfully launched in the Kingdom,” COO Jutla writes on LinkedIn. “KSA is undoubtedly the most attractive market in the region, and it has always been our mission to be part of this remarkable market transformation.”