THE MIDDLE EAST’S
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14. Rasan
Description: Insurtech and banking solutions
Headquarters: Saudi Arabia
Date of Establishment: 2016
CEO and Cofounder: Moayad Alfallaj
Rasan is a fintech and insurtech company serving individual consumers and corporates in the Middle East. Its flagship product, Tameeni, a digital insurance aggregator in Saudi Arabia, provides real-time policies. It also offers B2B solutions for vehicle leasing, while Awalmazad is an online auction platform for repossessed vehicles, used rental vehicles, and salvaged vehicles. Rasan recently launched Warshti, a B2C vehicle repair and maintenance aggregation platform in Saudi Arabia. It has 11.5 million active users. Users used the platform to buy insurance policies worth $1.75 billion in 2023.