August 30, 2025

Arzan VC backs Saudi’s first embedded insurtech in investment #49

Here’s your double summer dose of insights – and we’re starting with insurtech.

Our 49th investment is a first. Yasmina is the first embedded insurance platform in Saudi Arabia. They’re building something bold at the intersection of tech, trust and insurance. We’re all in.

Masoud, Bashar & the team – welcome to our family 😎

Arzan VC backs Saudi’s first embedded insurtech in investment #49

It’s the Seed-investment o’clock at Arzan VC.We participated in Yasmina’s seven-figure Seed round alongside Scene Holding, Access Bridge Ventures and Sanabil Investment Accelerator by 500 MENA.This insurtech marks our 49th investment to date – and the 5th from AVC Fund III.Insurance, But Make It InvisibleYasmina is Saudi’s first-mover insurtech, founded in 2023 by Masoud Alhelou, an insurtech product pro from Expedia and Maersk, and Bashar Abalkhail, ex-director at SAMA and former CEO of an insurance company.

The founders Masoud Alhelou (right) and Bashar Abalkhail  ©Yasmina

They came at the industry from opposite ends but hit the same wall: insurance was complex, outdated and nowhere near the customer when it mattered. Their fix? Embedded insurance that just works – powered by clean tech.

With full regulatory approval and a seamless API, Yasmina lets digital platforms offer insurance at checkout in under 48 hours. No paperwork. No friction. Just insurance where it makes sense.

Can’t the big insurance players just build APIs too?Technically, sure. But building tech is one thing. Making it seamless, scalable and regulation-ready is another.Yasmina’s edge isn’t just APIs. It’s their first-mover status as a licensed embedded insurance provider in Saudi, plus deep regulatory fluency and a proprietary full-stack platform that actually delivers.How they stay ahead:

  • Locking in exclusive partnerships with top digital platforms
  • Designing insurance products that blend perfectly into the user journey
  • Investing in tech to keep integrations fast, smart and stress-free

It’s for everyone who wants to offer insurance on their digital platform

‍Yasmina has partnered with leading digital platforms like Syarah (a leading car trading e-commerce platform in Saudi) and Jisr (an all-in-one HCM platform) to offer embedded insurance. Over 10 more platforms across HR, POS and real estate have gone live with Yasmina’s plug-and-play solution. Thanks to a flexible API infrastructure, if you’re digital, you’re eligible.On the product side, Yasmina partners with top insurers like MEDGULF and Walaato offer a wide range: SME Medical, Motor, Life and General Insurance.

Unlocking a new revenue channel

‍Clients love how Yasmina makes integration feel effortless. In under 48 hours, they’re live – and suddenly, insurance isn’t a headache, it’s a revenue stream. Yasmina handles the regulatory maze, product design, and backend complexity, so platforms can stick to what they do best… while watching a brand-new income channel switch on in the background.Here’s what Syarah’s CPTO Yousef Sawalha had to say about their improved purchase rate:"Yasmina’s embedded insurance solution has been a game-changer for Syarah. It seamlessly integrates with our online car sales platform, providing a hassle-free experience for our customers and increasing our revenue stream with minimal effort."‍

Regional expansion

‍Yasmina will use its Seed funding to grow the team and expand operations beyond Saudi Arabia. First stop: the UAE later this year, with Egypt on the roadmap for 2026.The biggest lesson‍“One of the biggest lessons we’ve learned is that in insurance, distribution is everything – but trust and compliance are what sustain it,” says Masoud.

Admirers of Stripe culture

‍Yasmina’s team draws inspiration from Stripe. “Their obsession with precision infrastructure, seamless UX, and clarity at scale really resonates with us,” explains Masoud. “Like Stripe, we’re solving a complex, regulated problem behind the scenes so our partners can offer a smooth, elegant experience up front.”‍

300+ board games

‍When they’re not building Yasmina, Masoud is likely off exploring new places, diving into books on innovation and leadership or adding to his impressive board game collection – now over 300 strong. Bashar, on the other hand, recharges by spending quality time with family, staying active and keeping a close eye on the latest in insurance and fintech.

Welcome to AVC family

‍We’re proud to be backing team Yasmina while they reshape how insurance works across the region.The deal captain, Asia Kabel, is very clear about why we made this investment:"Yasmina is operating in a fast-growing market, projected to grow from $0.6 billion to $8 billion by 2029. Embedded insurance is a tough space in our region – but what really convinced us about Yasmina is their team. Masoud and Bashar stood out throughout the DD process, and we believe they’ve got the experience to tackle what’s ahead and turn Yasmina into a success story."That’s the story we’re betting on.

Good luck to all summer interns out there.

Hasan

TL;DR

Our 49th investment = Yasmina. Saudi’s first-mover insurtech, founded in 2023 by Masoud Alhelou and Bashar Abalkhail. With full regulatory approval and a seamless API, Yasmina lets digital platforms offer insurance at checkout in under 48 hours. No paperwork. No friction. Just insurance where it makes sense. Despite regional challenges in embedded insurance, their standout team won our conviction. Masoud and Bashar impressed during DD and we believe they are well-equipped to drive Yasmina’s success.

Family Postcard

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