Cashee, a mobile banking app for children and teenagers, will be released in Saudi Arabia

The three co-founders of the 2020 start-up are Gups Jutla (COO), Brad Whittfield (CFO), and Smeetha Ghosh (CEO).

Cashee calls itself a "platform for banking and financial education" and claims to be empowering young people to develop better money management skills.

Youth between the ages of six and eighteen will be eligible to get a prepaid Visa card and a free mobile app upon launch. Although Cashee is a technology business rather than a bank, it is supported by Arab National Bank (ANB) of Saudi Arabia, which also supplies its cards.

One of the biggest banks in the Middle East, ANB, led a $3 million Series A investment round for the start-up in 2022, making it a shareholder and investor. Cashee has already completed a pre-seed investment round that brought in $1 million.

"A fresh chapter for Cashee with our revamped brand identity and new product, available in both English and Arabic," the start-up said at the beginning of 2024.

The software is presently accessible in Saudi Arabia through the Apple software and Google Play stores on an invitation-only basis; a wider market roll-out is anticipated soon.

COO Jutla posts on LinkedIn, "After three years in the making, we are proud to announce that we have successfully launched in the Kingdom." "We have always wanted to be a part of this incredible market transformation, and the Kingdom of Saudi Arabia is without a doubt the most appealing market in the region."