Saudi Insurtech Yasmina Secures $2 Million Seed Funding to Revolutionize Embedded Insurance
Riyadh-based insurtech trailblazer, Yasmina, has successfully closed a $2 million seed funding round, signaling significant momentum for the embedded insurance sector in the MENA region. This pivotal investment was spearheaded by Scene Holding, with Access Bridge Ventures playing a co-leading role. Further participation came from Arzan VC and the Sanabil Investment Accelerator by 500 MENA, underscoring strong investor confidence in Yasmina’s innovative approach. This capital injection is poised to accelerate Yasmina’s mission to seamlessly integrate insurance solutions into digital platforms, making policies more accessible and personalized for businesses.
Powering Digital Platforms with Seamless Insurance Solutions
Founded in 2023 by visionaries Masoud Alhelou and Bashar Abalkhail, Yasmina is at the forefront of transforming how insurance products are distributed. The company specializes in enabling digital platforms to offer API-driven, personalized insurance policies directly at the point of checkout. This innovative model caters specifically to Small and Medium-sized Enterprises (SMEs), covering a comprehensive range of needs including medical, motor, life, and general insurance. A key differentiator for Yasmina is its efficiency: products are fully regulated and ready for integration in under 48 hours, significantly reducing the traditional complexities and delays associated with insurance procurement. This streamlined process empowers digital businesses to enhance their service offerings and provide immediate value to their customers, fostering a more secure and efficient digital ecosystem.
The newly secured seed funding will be instrumental in fueling Yasmina’s ambitious expansion plans beyond its home base in Saudi Arabia. The company has strategically outlined launches in the United Arab Emirates by 2025, followed by an entry into the Egyptian market in 2026. This geographical growth, particularly the expansion into Egypt, highlights Yasmina’s broader vision for impacting the digital economy across the Middle East and North Africa. By bringing its embedded insurance platform to new territories, Yasmina aims to replicate its success in providing agile, technology-driven insurance solutions, further cementing its position as a key player in the evolving insurtech landscape of the region.
Yasmina’s successful funding round is a clear indicator of the burgeoning potential within the Saudi and broader MENA insurtech landscape. By simplifying insurance access and integrating it directly into existing digital workflows, Yasmina is not just offering a product but is fundamentally changing how businesses and individuals interact with insurance. This strategic investment positions the company for significant growth, setting the stage for its embedded insurance model to become a standard across digital platforms throughout the region, enhancing financial security and operational efficiency for countless businesses.
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