Tech

Egypt’s fintech startup, Yalla expands into Saudi Arabia

Published

1 year ago

September 12, 2023

Egypt-based fintech startup, Yalla penned significant agreements with major financial companies and institutions which will see it expand its operations into Saudi Arabia and the MENA region.

Founder and CEO of the platform, Dr Waleed Sadek, who disclosed this on Tuesday, said the fintech was “set on expanding into Saudi Arabia this year, having signed a variety of agreements, including a memorandum of understanding with Alinma Bank and Digital Pay.”

“The launch of Yalla in the Saudi market is a pivotal milestone for the company. It follows a comprehensive study of the needs and expectations of various individual and corporate customers in the Kingdom, building on the unprecedented success achieved by the Yalla platform in Egypt,” Sadek said in a statement.

“Additionally, after the launch of the app in the UAE earlier this year, a significant market in the region, we aim to attract approximately one million Saudi users to the Yalla platform during the first year of operation, offering the best possible services that cater to the desires and needs of our customers in the Kingdom of Saudi Arabia,” he added.

Yalla is one of Egypt’s top financial apps that gives users the opportunity to send and receive money, pay merchants online and offline, and place orders.

According to its website, the startup has so far garnered over two million users, with over seven million transactions processed through the app.

Related Topics:Egypt Featured fintech MENA Saudi Arabia Yalla

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Tech

Fintech startup DigMo launched in Zambia to gamify financial planning

Published

10 hours ago

November 24, 2024

Isaac Dachen

DigMo, a gamified fintech startup which helps users to build wealth tools from low to middle-income earners, has been launched in Zambia.

CEO of the DigMo Group, Sylvia Brune, who made the announcement, says the platform which is licensed by the Bank of Zambia to operate a wallet, offers a secure, free digital money account with a special account for users to play a financial planning game which incentivises customers to get started putting money away for the future.

“By giving customers the chance to win big rewards, DigMo is encouraging sustainable habits,” said Brune.

She stated that with an initial rollout in Zambia, DigMo wallet’s first offering, Save to Win, will make putting money away regularly, easy and rewarding with no fixed costs or fees.

“DigMo Save to Win allows users to start with small amounts – from just ZMW10 (US$0.37) – for the chance to win prizes of up to ZMW500,000 (US$19,000).

“We are committed to financial planning innovation for low and middle-income earners across Africa. To achieve this meaningful impact, we approach this like a game studio – where we constantly create and test many new products until we find those with an outsized impact,” Brune said.

“If we just take existing products and make them more affordable or accessible, it is unlikely that we can dramatically change behaviours.

“To succeed, we have engaged directly with users, observing and learning from them to develop DigMo, a solution that will dramatically improve their financial well-being and meet their unique needs,” she added.

Tech

Kenya’s startup BuuPass partners with GiftPesa to launch digital travel vouchers

Published

2 days ago

November 23, 2024

Isaac Dachen

Kenyan digital ticketing and transportation management solutions startup, BuuPass, has entered into a partnership with fintech company, GiftPesa, to introduce digital travel vouchers ahead of the holiday season.

In a statement by BuuPass cofounder and CEO, Sonia Kabra, the move will offer a more flexible and convenient way for Kenyans to manage and gift travel arrangements during the bustling holiday period.

“We’ve noticed a growing demand for digital solutions in the travel industry, especially during peak periods like the holiday season,” said Kabra.

“This partnership with GiftPesa enhances the travel experience for our customers, offering them a convenient way to send travel tickets as gifts and have a safety net for unconfirmed travel dates.

“Unlike traditional paper vouchers that can expire or get lost, GiftPesa vouchers are valid for 12 months and can be redeemed in parts at over 3,000 outlets across the country.

“This flexibility allows recipients to use the vouchers for multiple trips or select their preferred destination, making travel more accessible,” she added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a leading B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

GiftPesa, on the other hand, is a fintech startup that provides businesses and individuals with a platform for creating digital vouchers.

The partnership between the two companies will introduce digital travel vouchers, helping users manage and gift travel arrangements during the bustling holiday period.