It was announced that the UAE-based Edtech and Fintech startup Cashee has managed to raise about $1M in a Pre-seed funding round. The startup offers a digital platform along with providing prepaid cards to teens and kids that have a lot of useful features. It includes access for parents to deposit money, pay allowances, manage gifts along with setting flexible controls on how much their kids can spend. The main goal of the startup is to improve and innovate the overall financial literacy in the whole MENA region. This will also help the region while allowing the youth to help with money management from an early stage and securing their management abilities in the future.
Smeetha Ghosh, the Cashee co-founder, commented “I would like to thank our investor community for their trust and support. We treat our investors as co-creators and brand ambassadors for Cashee. Together we are committed to building something very special for the MENA region.”
Brad Whittfield, the Cashee co-founder, added “In a relatively short period of time, Cashee has already built an incredible ecosystem which includes some impressive names like Visa and Microsoft. The fact that the company achieved over 150% of their target raise is a very positive sign of the emphasis the local investor community is putting on our youth.”
