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FinTech Cashee to Drive UAE Rollout with $1M Pre-Seed Investment

The fintech edtech company is working to improve financial literacy in the region, targeting children and the youth in preparation for the transition towards a cashless society.

UAE-based fintech and edtech startup, Cashee, has raised $1 million in a pre-Seed investment round.

The company seeks to improve financial literacy in the region through solutions including a physical prepaid card, as well as a digital platform designed for children and teenagers to give parents the ability to deposit money and set customised and flexible controls on how much their children can spend.

Its wider vision incorporates empowering youth on the increasingly pressing subject of financial management as the region - and world - continues transitioning towards a cashless society.

Brad Whittfield, Cashee’s co-founder, reflected on how "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 percent of their target raise is a very positive sign of the emphasis the local investor community is putting on our youth."

The new funds will be used for driving its UAE rollout, commencing July 2021, as well as enhancing the organisational set-up already gaining momentum in Saudi Arabia.