YAP’s app is a Dubai-born neobank that set out to make banking simple and mobile-first for residents of the UAE and beyond. The company launched in March 2021 after its founders partnered with RAK Bank to provide banking infrastructure and IBANs, allowing YAP to operate as an independent digital banking platform without a traditional branch network.
The startup was co-founded by Marwan Hachem and Anas Zaidan. Marwan Hachem serves as the Group CEO, while Anas Zaidan is the Managing Director. Together with others from payments and fintech backgrounds, who aimed to replace paperwork and long waits with instant account opening and an app-first experience.Â
Key Features of YAP
YAP’s App offers a full digital banking experience through a smartphone app. Users get an instant IBAN-enabled account, virtual and physical debit cards, and real-time spend tracking.
The app organizes transactions into clear categories, offers budgeting tools and notifications, and supports both local and international transfers.
YAP relies on its banking partner to safeguard deposits, while the app focuses on fast onboarding, intuitive analytics, and low-cost remittances.
How YAP Benefits Users
YAP’s design targets tech-savvy residents, expatriates, and young professionals who need fast and transparent money management tools. By showing where money is going through simple charts and sending proactive alerts, the app helps users identify overspending, build straightforward budgets, and save more effectively. For expats handling multiple currencies, YAP’s foreign-exchange and transfer features reduce hidden costs and simplify remittances. These practical benefits make everyday money management less stressful and more visible for many customers in the region.
Real-world traction and achievements
Early demand was strong; within weeks of going live, the platform attracted thousands of sign-ups, and by mid-2022, more than 130,000 people had registered on the app.
In July 2022, YAP closed a $41 million funding round led by investors including AlJazira Capital and several regional groups to fund expansion across the Middle East, Africa, and South Asia. The funding underwrote entry into markets such as Saudi Arabia and plans for Pakistan, Egypt, and Ghana.
What YAP contributes in the UAE fintech scene
YAP arrived as the UAE pushed for digital transformation and financial inclusion. By removing branch dependency and focusing on user experience, the company demonstrated how tailored digital tools can cut friction for everyday banking tasks. Its combination of analytics, low-fee transfers, and rapid onboarding addresses gaps traditional banks often leave for freelancers, expatriates, and younger customers who prefer mobile-first services.
Vision and plans
YAP’s stated goal is to expand across the Middle East and Africa, adapting services to local needs such as regulatory licensing and product tweaks for different markets. The company plans to add more personalized financial guidance, predictive savings features, and tighter e-commerce integrations, with the long-term aim of serving millions of customers across multiple countries. Continued partnerships with local banks and regulators are central to this strategy, ensuring users’ funds are protected while the brand scales.
YAP’s rise from a 2021 launch to a funded regional challenger shows the demand for clear, mobile-first banking in the Gulf and neighboring regions. Its success rests on simple principles: fast account access, transparent spending insights and low-cost cross-border payments.
If YAP executes its expansion plans and keeps the product focused on usability, it is well placed to broaden financial access for many people who currently find traditional banking slow or costly.
