yallacompare.com, a comparison platform for finance products, has collected $4.25m in a new funding round.
The capital injection was supplied by Gulf Insurance Group.
Founded in 2011, the platform enables consumers to compare insurance policies, loans, deposit accounts, current accounts, credit cards and more.
The company operates insurance aggregators in the UAE, Kuwait and Egypt.
yallacompare CEO Jon Richards said, “We are delighted to add gig (Gulf Insurance Group) as an investor and partner and have big plans for the next few years. I believe that the combination of gig’s regional and industry expertise and yallacompare’s digital capability will combine to deliver innovative products via customer friendly channels to consumers across the region.
“We are all too aware of how fortunate we are to bring in fresh capital at this time and we very much appreciate the courage that gig have shown to invest in yallacompare in this turbulent economic climate. ’’
Last year, yallacompare secured $8m in a funding round from Argo Ventures, STC Ventures and Wamda Capital.
FinTech companies based in the Middle East & Israel have raised more than $1.9bn across 191 transactions since 2015. RegTech companies have received the largest portion of this, taking 20.5% of this capital, which is equal to around $391.6m.
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