Saudi's Yasmina Secures $2M to Scale Embedded Insurance Platform
The round was led by Scene Holding, co-led by Access Bridge Ventures, with participation from Arzan VC and the Sanabil Investment Accelerator by 500 MENA.
Founded in 2023 by Masoud Alhelou and Bashar Abalkhail, Yasmina provides API-based insurance solutions that integrate directly into digital platforms.
The company enables businesses to offer personalised insurance at checkout within 48 hours, backed by full regulatory approval.
Since its launch, Yasmina has formed partnerships across sectors including human resources, automotive, travel, point-of-sale, and real estate.
These collaborations are expected to extend embedded insurance products, such as SME medical, motor, life, and general insurance, to more than 1.5 million users.
The Seed funding will support the company's regional expansion, with operations launching in the United Arab Emirates later this year and in Egypt by 2026.
Yasmina also plans to scale its team to support this growth.
'This round is a strong vote of confidence in our vision to simplify insurance across digital touchpoints. We're proud to be the first embedded insurance platform in Saudi Arabia, and this funding will help us scale faster, serve more partners, and redefine how protection is offered in the region.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
3 hours ago
- Gulf Today
eToro continues journey towards a tokenized future with launch of 24/5 trading, futures and tokenized stocks
eToro Group Ltd. ('eToro', or the 'Company') (NASDAQ: ETOR), the trading and investing platform, revealed today in a global webinar 'eToro Unlocked: Trade Without Boundaries' how the company is evolving its product offering as it moves towards a tokenized future. eToro Co-founder and CEO, Yoni Assia said: 'We've been long-term believers in a tokenized future. Blockchain technology will facilitate the greatest ever transfer of wealth, as traditional assets are tokenized and moved onto the blockchain. Hurdles remain, namely vested interests, however, we are witnessing key milestones on that journey. New regulations, such as MiCA in Europe and the passing of the Genius Act in the US, makes the tokenization of real world assets a new opportunity to create digital assets that are legally backed and regulated. The benefits of tokenization, in particular 24/7 transferability, have been clearly demonstrated by stable coins and these opportunities are now expanding to more asset classes.' In today's webinar, eToro revealed that it will be expanding its current 24/5 trading offering to include an initial list of 100 of the most popular US-listed stocks and ETFs that will be available to trade 24/5 as the underlying asset. eToro has also expanded its futures offering as one of the first platforms to offer spot-quoted futures . Brought to market in collaboration with CME Group, spot-quoted futures offer the benefits of futures trading via accessible-sized contracts with familiar spot-based pricing and longer-dated expiries. These innovative futures contracts provide users with greater flexibility to trade stock and crypto markets, all within the seamless experience of the eToro platform. Currently live in select European markets, eToro plans to offer these contracts to a growing proportion of its global userbase providing them with the tools they need for every stage of their investing journey. 'We want to offer our global user base the flexibility to trade on their time-frame. 24/5 trading whether through US equities or spot-quoted futures empowers users to trade in real-time in response to market events or simply when it's convenient to them. We will continue to expand this offering to put our users in control of when they trade.' said Yoni Assia . Since CEO Yoni Assia co-authored the Colored Coins whitepaper in 2012, eToro has been actively involved in tokenization. In 2019, following the acquisition of Danish token startup Firmo, eToro launched tokenized gold (GOLDX) and silver (SLVX) alongside a number of fiat currencies. Building on this heritage, eToro today announced the forthcoming launch of US-listed equities as ERC20 tokens on the Ethereum blockchain. Commenting on the announcement, Yoni Assia said: 'Our mission has always been to open the global markets. Extended hours trading was the first step, 24/5 takes it a step further, however tokenization brings 24/7 accessibility. Tokenization removes boundaries, providing transparency and control. It has the potential to democratize finance, making assets more accessible to more people. 'We began our tokenization journey in 2019 and we're excited to now be able to significantly progress that initiative. Our goal is to tokenize every asset on eToro – starting with stocks – enabling our users to move tokenized assets onto the blockchain and from there integrate them into the broader DEFI ecosystem. Users will then be able to redeem tokenized stocks for the underlying position on eToro and vice versa.' You can find out more about today's announcements at eToro Unlocked . For the latest on eToro, including an announcement coming on August 7th, follow us @eToro .
Khaleej Times
12 hours ago
- Khaleej Times
India to maintain Russian oil imports despite Trump threats, government sources say
India will keep purchasing oil from Russia despite U.S. President Donald Trump's threats of penalties, two Indian government sources told Reuters on Saturday, not wishing to be identified due to the sensitivity of the matter. On top of a new 25% tariff on India's exports to the U.S., Trump indicated in a Truth Social post last month that India would face additional penalties for purchases of Russian arms and oil. On Friday, Trump told reporters he had heard that India would no longer be buying oil from Russia. But the sources said there would be no immediate changes. "These are long-term oil contracts," one of the sources said. "It is not so simple to just stop buying overnight." Justifying India's oil purchases from Russia, a second source said India's imports of Russian grades had helped avoid a global surge in oil prices, which have remained subdued despite Western curbs on the Russian oil sector. Unlike Iranian and Venezuelan oil, Russian crude is not subject to direct sanctions, and India is buying it below the current price cap fixed by the European Union, the source said. The New York Times also quoted two unnamed senior Indian officials on Saturday as saying there had been no change in Indian government policy. Indian government authorities did not respond to Reuters' request for official comment on its oil purchasing intentions. However, during a regular press briefing on Friday, foreign ministry spokesperson Randhir Jaiswal said India has a "steady and time-tested partnership" with Russia. "On our energy sourcing requirements ... we look at what is there available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances," he said. The White House did not immediately respond to requests for comment. India's top supplier Trump, who has made ending Russia's war in Ukraine a priority of his administration since returning to office this year, has expressed growing impatience with Russian President Vladimir Putin in recent weeks. He has threatened 100% tariffs on U.S. imports from countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. Russia is the leading supplier to India, the world's third-largest oil importer and consumer, accounting for about 35% of its overall supplies. India imported about 1.75 million barrels per day of Russian oil from January to June this year, up 1% from a year ago, according to data provided to Reuters by sources. But while the Indian government may not be deterred by Trump's threats, sources told Reuters this week that Indian state refiners stopped buying Russian oil after July discounts narrowed to their lowest since 2022 - when sanctions were first imposed on Moscow - due to lower Russian exports and steady demand. Indian Oil Corp, Hindustan Petroleum Corp , Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd have not sought Russian crude in the past week or so, four sources told Reuters. Nayara Energy - a refinery majority-owned by Russian entities, including oil major Rosneft, and major buyer of Russian oil - was recently sanctioned by the EU. Nayara's chief executive resigned following the sanctions, and three vessels laden with oil products from Nayara Energy have yet to discharge their cargoes, hindered by the new EU sanctions, Reuters reported last week.
Arabian Post
15 hours ago
- Arabian Post
Anaconda secures $150 million to advance AI technology
Arabian Post Staff -Dubai US-based artificial intelligence company Anaconda, Inc. has raised $150 million in a Series C funding round, marking a significant milestone in its expansion plans. Mubadala Capital, the asset management arm of Abu Dhabi's Mubadala Investment Company, is among the key investors. This round, led by US software investor Insight Partners, aims to accelerate Anaconda's growth, focusing on new AI capabilities, strategic acquisitions, and expanding into new markets. The company, founded in 2012, is dedicated to advancing AI with open-source tools, providing an essential framework for developers, data scientists, and engineers globally. Anaconda's mission is to drive large-scale AI adoption through its platform, which has gained significant traction in the AI and machine learning ecosystems. ADVERTISEMENT As of July 2025, Anaconda has reported over $150 million in annual recurring revenue, reflecting its increasing dominance in the industry. The company's software solutions cater to an expanding customer base, including organisations looking to incorporate AI into their operational frameworks. The funding will primarily support Anaconda's continued product innovation, along with its push to enhance its presence in international markets. Anaconda's unique selling proposition lies in its open-source tools that democratise access to advanced AI and ML frameworks. With a strong developer community and a rich ecosystem of libraries and tools, Anaconda has become synonymous with Python and R-based data science solutions. The company's efforts in open-source software are in line with a broader industry trend, where collaboration and knowledge sharing are key to driving innovation. The involvement of Mubadala Capital underscores the growing interest of Middle Eastern investors in global tech startups. Mubadala has a long history of investing in transformative companies, particularly in the technology and innovation sectors. By supporting Anaconda, Mubadala is positioning itself at the forefront of AI's global expansion. In addition to the capital infusion, Anaconda aims to make strategic acquisitions to broaden its portfolio of AI technologies. As AI becomes increasingly critical across industries—from healthcare and finance to manufacturing and entertainment—the demand for robust, scalable AI platforms continues to rise. Anaconda's focus will likely extend to acquiring complementary AI firms that enhance its platform's capabilities, particularly in specialised areas like natural language processing, deep learning, and AI-driven data analytics. The Series C funding is a testament to the growing confidence in Anaconda's potential to shape the future of AI. The company's ability to secure such a significant investment speaks to the strength of its market position and the value placed on its open-source model. Insight Partners, a prominent software investor, has a track record of backing companies that disrupt traditional industries with innovative technologies. This partnership reflects the increasing recognition of Anaconda's role in enabling AI adoption at scale. Despite the ongoing challenges faced by the tech industry, such as regulatory scrutiny and the need for robust data privacy protocols, Anaconda has shown resilience in its business model. The company has consistently demonstrated the scalability and flexibility of its products, which cater to a wide range of use cases. From startups to large enterprises, Anaconda's platform has become a go-to solution for developing AI applications efficiently. As Anaconda expands its reach, it will need to navigate the evolving landscape of AI regulations, which continue to shift globally. In markets such as Europe and North America, there is growing concern over the ethical implications of AI and data privacy. The company's ability to address these concerns while continuing to innovate will be crucial to its long-term success. The funding will also enable Anaconda to strengthen its partnerships with key tech firms and expand its network of collaborators. As AI technology continues to evolve, Anaconda's role in shaping its future will likely be central to the wider conversation on AI governance and ethics. By partnering with other tech leaders, Anaconda can continue to push the boundaries of what's possible with open-source AI technology, ensuring it remains at the forefront of the AI revolution.
