Cashee Youth Banking App Launches in Saudi Arabia Backed by Arab National Bank

Cashee, a mobile banking and financial education app for children and teenagers aged 6 to 18, announced on Jul 17, 2026 that it is preparing to launch in Saudi Arabia. Arab National Bank (ANB) serves as the sponsor bank, providing regulated banking infrastructure including prepaid Visa card issuance. Cashee delivers the consumer-facing app in English and Arabic, combining controlled payment access with financial literacy tools.

ANB led a USD 3 million funding round in Cashee in 2022, becoming both investor and sponsor bank partner. The app is live on an invite-only basis via app stores ahead of a wider rollout. This deal reflects growing use of the sponsor bank model in the MENA region, where fintechs depend on licensed banks for core regulated functions while focusing on product experience and underserved customer segments.