Saudi Insurtech Yasmina Secures $2M Seed to Expand MENA Operations

Yasmina, a Riyadh-based embedded insurance platform founded in 2023, has raised $2 million in seed funding led by Scene Holding and co-led by Access Bridge Ventures, with participation from Arzan VC and Sanabil Investment Accelerator by 500 MENA. The platform uses seamless API integration to enable digital businesses to offer personalized insurance products at checkout within 48 hours, with full regulatory approval in Saudi Arabia. Yasmina has formed strategic partnerships across sectors such as HR, automotive, travel, point of service, and real estate, aiming to serve over 1.5 million customers with SME medical, motor, life, and general insurance products. The funding will support Yasmina's expansion plans into the UAE in 2025 and Egypt in 2026 as it scales its team and operations. The company positions itself at the intersection of insurtech and fintech, addressing regulatory challenges in the MENA region and capitalizing on the rapidly growing embedded finance market projected to reach $37.7 billion by 2029. Yasmina’s leadership emphasizes simplifying insurance across digital touchpoints and redefining protection offerings in the region.