# Yabi by Souqalmal

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/yabi-by-souqalmal

- Industry: Financial Services
- Headquarters: Dubai, United Arab Emirates
- Website: www.yabimoney.com
- Total disclosed funding: $11M
- Latest round: Series B (Oct 3, 2017)
- Investors on record: 4

## About

Yabi by Souqalmal is a UAE-based company offering an AI-driven financial coaching platform that empowers users to manage their personal finances through engaging educational content and personalized insights.Founded in 2022 and headquartered in Dubai, United Arab Emirates, Yabi specializes in financial coaching. The company recently raised USD 8.000 mn in Seed funding on November 28, 2023, with backing from Al Wafra Al Thanya (Wafra II) and SHUAA Capital. This funding will support its growth strategy and product development.Yabi Technologies provides an innovative, AI-powered financial coaching platform designed to assist users in managing their personal finances effectively. The core offerings include an interactive learning experience through bite-sized educational videos developed in collaboration with established financial coaches, allowing users to gain instant insights and actionable advice. Yabi's tools enable users to track spending by connecting multiple bank accounts, providing personalized insights that highlight spending patterns and critical financial details. Additionally, the platform aims to enhance users' credit scores by offering tailored advice on improving credit habits, ultimately facilitating better financial opportunities. Targeted primarily at individual consumers in the UAE and KSA markets, Yabi’s services cater to anyone looking to improve their financial literacy and achieve specific savings milestones.Yabi generates revenue through a subscription-based model, allowing users to access advanced features of its financial coaching platform. Clients typically engage with the platform by signing up for a free trial, which subsequently transitions into a paid subscription tier for enhanced functionalities. The company’s transaction structure focuses on direct-to-consumer interactions, where users pay for premium features that facilitate more in-depth financial guidance and resources. Specific pricing plans may include various tiers based on the level of service and access provided, although these details are part of the internal structure. The flagship service, centered on AI-driven financial coaching and real-time personal finance management, is pivotal in establishing Yabi's position in the market and driving user engagement.In November 2023, Yabi by Souqalmal raised USD 8.000 mn in Seed funding, which will be utilized to expand its product development and market growth. The company aims to introduce new features and services in the coming months while targeting expansion into new markets, specifically within the MENA region, by 2024.

## Funding rounds

- Series B, Oct 3, 2017, $10M — Riyad Capital, UAE Exchange Centre LLC, GoCompare.com Group Plc
- Series A, Dec 1, 2013, $1.2M — Hummingbird Ventures

## Investors

- Hummingbird Ventures (https://capitalatlas.ai/funds/hummingbird-ventures) — Series A
- Riyad Capital (https://capitalatlas.ai/funds/riyad-capital) — Series B
- UAE Exchange Centre LLC — Series B
- GoCompare.com Group Plc — Series B