Zywa, a Dubai-based neobank for Gen Z, raised $3 million in a fresh funding round with the intent to accelerate growth in the United Arab Emirates (UAE) and to launch its expansion into Saudi Arabia and Egypt. The fresh funding comes after the company received $1 million in pre-seed funding in February of this year. Participating in the most recent round were Goodwatercap, Dubai Future District Fund, Rebel Fund, Trampoline Ventures, ZEMU, a number of well-known European family offices, and strategic angel investors. For Gen Z (those between the ages of 11 and 25), Zywa’s social banking app and prepaid card enable users to receive, manage, and send money.
YC-backed Zywa, a Neobank for Gen Z, Raises $3M to Expand Across MENA
