Digital banking start-up YAP raises $41 million, to expand into Saudi Arabia

YAP, a digital bank in the United Arab Emirates, said on Monday it had raised $41 million in funding and targeted raising another roughly $20 million to finance its expansion plans.

The investors so far included Saudi Arabia’s Aljazira Capital, Abu Dawood Group, Astra Group and Audacia Capital. YAP said it intends to complete it Series A by the end of the year.