Mubasher: Saudi Arabia-based edtech YaSchools has raised $600,000 in a Seed funding round from a group of angel investors, according to a press release.
YaSchools acts as the facilitator between all members of the educational community, as it deploys big data, artificial intelligence (AI), and financial technologies that can assist in processing tasks in an autonomous and fast-paced manner.
It also provides parents with alternative financing solutions that include microlending and buy now pay later (BNPL) services.
Mohamed Zohair, Co-Founder and CEO of YaSchools, commented: “Our goal is to make the education journey a hassle-free experience and lessen the financial burden on the parents; therefore, we are planning to add more services and products to our system.”
Meanwhile, the company is set to launch its business in Jordan within a few weeks.
As for fundraising, the platform will use the investment to boost its future expansion plans in the MENA region.
Yasser Nasr Aldin, Co-Founder and Chief Strategy Officer at YaSchools, indicated: “The company’s future expansion plan also includes the Middle East, North Africa, and Turkey (MENAT) region.”
“The way we work to expedite that is by providing a package of localized services that meet the needs of parents in each country who may find it hard to find the best educational solutions for their children,” Aldin stated.
Since the launch of its micro-lending services in early 2023, YaSchools has received financing requests exceeding $40 million.
It currently has 1,750 registered schools and serves 2,500 teachers and over 92,000 parents. The startup is targeting around 56 million students at 270,000 schools in the MENAT region, with $110 billion.
YaSchools also offers an Islamic-compliant line of credit that enables users to pay educational expenses in installments of up to 12 months.
This is in partnership with financial entities, including Tasheel Finance, Alinma Bank, Al Yusr Financing and Leasing Company Finance, Wataniya Finance, Al Amthal Finance, and Tabby.
