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Saudi Arabia-based startup YaSchools has raised 2.203 million dirhams ($600,000) in a seed round from a group of angel investors.
Founded in 2021 by Mohamed Zohair, Ahmed Mahdy, and Yasser Nasr-Aldin, YaSchools provides educational management solutions that connects schools, teachers, and students.
The company also facilitates microlending solutions that provides parents with payment plans to cover educational expenses, including an Islamic-compliant line of credit that allows users to pay educational expenses in instalments.
Currently, YaSchools has 1,750 schools registered on its platform, serving 2,500 teachers and more than 92,000 parents.
The seed investment will finance the company’s expansion plans, starting with Jordan, followed bya a further penetration into the Middle East, North Africa, and Turkey (MENAT) region.
Earlier this year, Saudi Arabia announced a $50.4 billion investment in the education sector as part of its Vision 2030 strategy, with the government introducing reforms to fund a knowledge-based economy.
Edtech spending in the region is also expected to grow exponentially, according to a recent report by investment banking advisory firm Alpen Capital, with more planned initiatives such as February’s collaboration between Saudi Arabia’s Tatweer Educational Technology and Lenovo that will provide a framework to drive digital transformation across the Kingdom.
(Writing by Bindu Rai, editing by Seban Scaria)
