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

Cashee provides a prepaid card and digital platform to kids and teens that gives their parents the ability to deposit money, manage gifts, pay allowances, manage chores and set flexible controls on how much kids can spend. The vision of the company is to improve financial literacy in the Middle East and North Africa (Mena) region whilst empowering the youth on the subject of money management in what is quickly becoming a cashless society.

Smeetha Ghosh, 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.”

The investment will be used to drive the UAE roll out commencing July 2021 and the organizational set-up in KSA which is already underway.