Riyadh-based embedded insurance platform Yasmina has raised $2 million in a seed funding round led by Scene Holding, with participation from Access Bridge Ventures, Arzan VC, and early backing from Sanabil Investment Accelerator by 500 MENA, it announced today.
Founded in 2023 by Masoud Alhelou and Bashar Abalkhail, Yasmina positions itself as Saudi Arabia’s first embedded insurance platform, enabling digital businesses to offer insurance products directly at checkout through API integration that can be completed in under 48 hours.
According to its website, the startup has demonstrated significant early traction, facilitating over 500,000 policies and working with 67+ online businesses and insurance companies since launch. The platform claims to have established partnerships across HR, automotive, travel, point-of-sale, and real estate platforms, with these collaborations expected to bring embedded insurance coverage to over 1.5 million customers.
Yasmina’s platform allows businesses to earn revenue with every policy sold at zero cost to them, while the company handles all backend operations including regulatory compliance, policy management, and claims processing. Partners can customize the insurance experience to match their brand and automatically show relevant products based on user behavior and cart data.
The company has secured notable partnerships, including with automotive platform Syarah.com for embedded motor insurance and various e-commerce platforms for checkout protection. According to customer testimonials, integration times range from one day for digital motor insurance to within a week for more complex implementations.
Yasmina plans to use the latest funding to expand beyond Saudi Arabia, beginning with the UAE this year and Egypt in 2026. The company also intends to scale its team and enhance its technology platform to support additional insurance products and use cases.
“This round is a strong vote of confidence in our vision to simplify insurance across digital touchpoints,” said Masoud Alhelou, Yasmina’s co-founder and CEO. “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.”
The embedded insurance model allows businesses to earn revenue with every policy sold while Yasmina handles backend operations including regulatory compliance and claims processing. The company reports having facilitated over 450 policies through its partner network since commercial launch.
Sultan Ghaznawi, Chairman & Managing Director of Scene Holding, said: “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, Partner at Access Bridge Ventures, noted the “untapped potential of Saudi’s Insurtech landscape,” positioning Yasmina as a potential breakout player in the market.
Hasan J. Zainal, Arzan VC’s Founder & Managing Partner, noted that Yasmina’s team is “uniquely positioned to drive innovation in this sector” thanks to their understanding of the regional insurance landscape.
The startup’s platform allows customers to purchase insurance without leaving their primary digital platform, addressing friction points in the traditionally paper-heavy insurance industry.
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