Fintech startup Ruba, a platform that aims to make education accessible to all, announced that it has raised an undisclosed amount in an oversubscribed pre-Seed funding round.
Ruba addresses a pain point in relation to school fees. Currently, parents pay hefty tuition fees over 2 to 3 instalments every school year, which in many cases results in cash flow stress. Ruba provides them with a convenient, seamless and fully-digital option of paying monthly over up to 12-months, at zero cost.
As the release highlights, it can be quite a crunch to deal with large school fees two or three times a year… and if you haven’t been saving, it can be rather difficult to deal with. I think there could well be a lot of demand for this type of service, not just in Kuwait, but all across the Middle East (and beyond).
Good luck to the team at Ruba!