News

Retail Enablement Company Zid Raises $50 Million

Saudi-based retail enablement company, Zid, has successfully raised $50 million in a funding drive led by IMPACT46.

Published

2 years ago

October 18, 2022

retail enablement company zid raises $50 million

Zid, the Saudi Arabian retail enablement company, has seen investment from the likes of Aramco venture capital arm (Waed Ventures) and Endeavor Catalyst in a recent round of fundraising, led by IMPACT46, paving the way for future expansion into new markets and helping to further modernize the retail sector.

The recent funding comes after a string of successes for Zid, after the company doubled its revenues from both subscriptions and transactions, as well as seeing a 50% increase in orders, with 7 million users now having made transactions through the platform.

Zid was created to enable merchants to grow their online selling channels. It is now taking on a broader mission to modernize the entire retail sector, improving efficiencies and helping business owners increase their profits.

The company has rolled out solutions enabling retailers to improve both shipping (ZidShip) and payments (ZidPay) and plans to offer financial and cross-border shipping products in the near future.

Also Read: Aramex Has Successfully Tested Drone Deliveries In Oman

“We appreciate the continuous belief and trust that our investors have put into the company, the leadership, and the team. We are focused on being the regional optimum solution for each economy we operate in, having proved it in Saudi Arabia,” says Sultan AlAsmi, Co-founder and CEO of Zid.

Like international giants such as Shopify, Zid is building a community that enables merchants to master online selling with a full-fledged eCommerce ecosystem equipped with sophisticated features. Unlike larger corporations, however, Zid is focused on fostering deep connections with merchants and strengthening the community as a whole. After completing the recent round of funding with help from asset management and advisory organization IMPACT46, the future looks bright for this progressive retail enablement company.

News

Yabi Introduces AI Financial Coach For Smarter Money Moves

The app provides real-time, personalized financial guidance, helping UAE residents manage money smarter, reduce debt, and build wealth effortlessly.

Published

13 hours ago

February 22, 2025

Nour Nasir

Yabi

Imagine having 24/7 access to an expert financial advisor — someone who understands your spending habits, helps you save more effectively, and offers guidance for every financial decision. That’s the vision behind Yabi’s revamped platform, an AI-driven finance app designed to transform personal finance management in the UAE.

Unlike traditional budgeting tools, Yabi acts as an always-available AI advisor, analyzing your unique spending patterns and offering real-time, tailored financial advice. Whether you’re making everyday purchases, planning a big trip, or saving for a major milestone, Yabi keeps you on track and helps you make informed financial choices.

Rakhil Fernando, CEO of Yabi, explains the mission behind the platform: “Financial literacy is not optional — it’s essential. But most financial tools today feel outdated and overly complex. Yabi is here to change that by offering AI-powered financial coaching that’s smart, simple, and accessible to everyone in the UAE”.

Here are some of the updated app’s new features:

AI-Powered Financial Coach: A 24/7 digital advisor providing real-time financial guidance based on your spending habits and available in multiple languages.
Live Insights: Connect your bank accounts for a detailed breakdown of your expenses.
Tailored Budgeting: Yabi creates a budget that fits with your actual spending habits rather than generic financial advice.
Interactive Financial Education: Learn the essentials of saving, investing, and credit management through engaging content integrated into the AI experience.
Automated Expense Tracking: Receive instant alerts on overspending, identify hidden charges, and cut unnecessary subscriptions with ease.
Credit Score & Financial Health Monitoring: Get free credit score checks and AI-driven recommendations to enhance your financial standing.

Also Read: A Guide To Digital Payment Methods In The Middle East

Finally, Yabi is also gearing up to introduce its own debit card and a suite of financial products, making it easier to save, spend, and invest within a single platform.

Want to try Yabi for yourself? You can download the app on the Apple App Store and Google Play Store.