Zywa (YC W22), the first neobank for Gen Z in the Middle East and North Africa, has raised a $3 million seed round to support its growth in the UAE and expansion to Egypt and Saudi Arabia.
Gen Zs in the UAE spend about $1 billion a year and still rely on cash or their parents’ cards, despite having options like supplementary cards issued by their parents’ banks.
Zywa adds value to these options, which provide access to digital payments, but they are not specifically designed for Gen Z.
Founded in 2021 by Alok Kumar and Nuha Hashem, Zywa is bringing a unique solution to the region by offering a gamified community-based banking app and payment card to Gen Z between the age of 11-25 years old in the Middle East and North Africa.
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