Drahim

Drahim is a Saudi personal finance app founded in Riyadh in August 2021. Using open banking licensed by the Saudi Central Bank (SAMA), it connects to a user's bank accounts and automatically categorizes spending across purchases, transfers, and bill commitments, generating simple reports on spending habits and upcoming bills. Its engine then suggests a low-risk, automated investing plan, letting users open an investment wallet with Sharia-compliant portfolios authorized by the Saudi Capital Market Authority (CMA), with access to local and U.S. markets starting from as little as 50 SAR. Drahim went through Y Combinator's Summer 2022 batch. In September 2024, Saudi lender Al Rajhi Bank acquired a 65% stake in Drahim, the first time a Saudi bank has taken majority ownership of a local fintech startup, and the company reported more than 250% year-on-year growth in registered users by the end of 2024. The app is available on iOS and Android and offers a free tier alongside a paid Drahim Plus subscription.