Drahim Analysis
What is Drahim?
Drahim is a Saudi financial application that connects to bank accounts, tracks spending, and analyzes transactions. The site presents separate offerings for personal finance, open banking, and Drahim Business. It also says the service is licensed and lawful, and it highlights a 4.6 rating and “best Saudi app” wording near the Apple Store mention.
Location
Thirteenth Floor, Building 6441, King Abdullah Financial District, Postal Code 13519, Riyadh, Kingdom of Saudi Arabia
Employees
11-50
Founded
2021
Revenue
$1.8M
Company Stage
Seed
YC Batch
S22
Product Features & Capabilities
- personal budgeting app, investment planning tools, financial transaction management, account consolidation, financial insights and recommendations
Pricing
- Drahim Plus: SAR 29.99 (monthly subscription)
- Drahim Plus Lifetime Discount: SAR 29.99 (one-time payment)
- Drahim Plus: SAR 249.99 (annual subscription)
Who are the founders of Drahim
SA
Sultan Alkhayal
Founder
YA
Yasser Alshurihi
Founder
HQ Full Address
Thirteenth Floor, Building 6441, King Abdullah Financial District, Postal Code 13519, Riyadh, Kingdom of Saudi Arabia
Competitors Overview
Drahim operates in the financial technology sector, focusing on personal budgeting and investment planning. Its main competitors include:
-
Roov: This app categorizes payments, generates annual reports in just five seconds, detects suspicious transactions, and automates document processing. Roov simplifies collective debt settlements, making it user-friendly for both clients and lawyers. Its emphasis on automation and quick reporting can be seen as a significant advantage over Drahim.
-
Riyalak: This personal financial management app allows users to link multiple bank accounts to view all transactions in one place. It focuses on tracking expenses and providing a comprehensive overview of financial health. Riyalak's ability to consolidate financial information from various accounts offers a notable advantage for users seeking a holistic view of their finances.
-
MyDollars: While specific details about MyDollars were not found, it is generally recognized as a competitor in the personal finance space, likely offering similar budgeting and investment planning features.
Drahim differentiates itself by analyzing users' financial habits to provide tailored budgeting and investment recommendations, which may appeal to users looking for personalized financial advice.
Investors
- Goodwater Capital
- Sanabil 500 MENA Seed Accelerator
- Sanabil Investments
- Techstars
- Y Combinator
- 500 Global
- Al Rajhi Bank (acquired a majority stake)
Business Model
Revenue from subscription fees and partnerships with financial institutions for data insights.
Market Focus
Drahim primarily focuses on the financial technology industry, specifically developing a digital platform for personal budgeting and investment planning.
Company Pricing
- Drahim Plus: SAR 29.99 (monthly subscription)
- Drahim Plus Lifetime Discount: SAR 29.99 (one-time payment)
- Drahim Plus: SAR 249.99 (annual subscription)
See something that needs updating? Suggest edits to this profile.