Riyadh-based insurtech startup Yasmina has closed a $2 million Seed round, marking a major step forward for the embedded insurance space in Saudi Arabia. The round was led by Scene Holding, co-led by Access Bridge Ventures, with participation from Arzan VC and early backing from the Sanabil Investment Accelerator by 500 MENA.
Founded in 2023 by Masoud Alhelou and Bashar Abalkhail, Yasmina is the first embedded insurance platform in Saudi Arabia, offering seamless API integrations that allow digital businesses to embed insurance products at checkout—in under 48 hours.
Transforming Insurance at the Digital Checkout
Yasmina’s API-first platform is reshaping how insurance is delivered across HR tech, auto, travel, real estate, and POS platforms. With full regulatory approval and a frictionless user experience, the platform is already poised to serve 1.5 million+ customers with a product suite that includes:
- SME Medical
- Motor Insurance
- Life
- General Insurance
Regional Expansion and Future Plans
The new capital will be used to scale Yasmina’s team and fuel regional expansion. The company plans to:
- Launch in the UAE in 2025
- Enter Egypt by 2026
Investor Confidence in Yasmina’s Vision
Masoud Alhelou, Co-founder & CEO of Yasmina, stated:
“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.”
Sultan Ghaznawi (Scene Holding):
“Yasmina’s API-first model and regulatory momentum place it at the intersection of insurtech, fintech, and protection—a space we believe will define the next wave of value creation across MENA.”
Rakan AlRashed (Access Bridge Ventures):
“Yasmina’s team has paired deep sector insight with impressive early traction. They’re well-positioned to become the breakout player the Saudi market has been waiting for.”
Amal Dokhan (500 Global):
“We believed in their vision early on. Their momentum today shows just how powerfully embedded insurance can scale across our region.”
Hasan J. Zainal (Arzan VC):
“Yasmina’s understanding of the regional insurance landscape gives them a unique edge to lead innovation in this space.”
Conclusion
As MENA’s insurtech scene gains momentum, Yasmina emerges as a standout player, bridging digital commerce and protection. With strong local backing and an API-first approach, the startup is poised to transform how insurance is experienced across the region.
