FinTech news in goodwater capital category

Dubai-based Zywa, a neobank for Gen Z, plans to fuel its growth in the United Arabs Emirates (U.A.E), and to kick-start its expansion to Saudi Arabia and Egypt after raising $3 million seed funding at over $30 million (110 million AED) valuation. The fintech is also adding community-based value-add services like a platform it is building within the app to enable users to apply for internships at Zywa and partner startups, as a strategy for encouraging users to start earning early. They created Zywa as a social banking app and prepaid card to make it possible for the Gen Z (between the age of 11-25 years) to receive money, manage it, and make payments. Zywa also plans to introduce a social element to its app by enabling its users to share photos or videos of their purchases, and to react to their friends’ purchases on different feeds.