• UAE-based fintech startup Cashee raised a $1 million pre-Seed funding round.

• Founded by Smeetha Ghosh and Brad Whittfield, Cashee teaches children aged between 8-15 the skill of money management, by providing them a prepaid card and digital platform that gives their parents the ability to deposit money, manage gifts, pay allowances and manage chores.

• The investment will help Cashee to drive its UAE roll out starting from July 2021, with organisational set up in KSA already underway.

Press release:

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."

Brad Whittfield, 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 per cent of their target raise is a very positive sign of the emphasis the local investor community is putting on our youth."

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