About UmrahCash
UmrahCash is a company based in Jeddah (Saudi Arabia) founded in 2024 by William Phelps. UmrahCash has raised $500 thousand across 1 funding round from investors including Adaverse. UmrahCash offers products and services including UmrahCash App and Wallet Service. UmrahCash operates in a competitive market with competitors including Mala'a, Mthmr, Tiqmo, Mod5r and Horizonbudget, among others.
- Headquarter Jeddah, Saudi Arabia
- Founders William Phelps
- SectorsTechnology
- Website umrahcash.com
- Total Equity Funding$500K (USD)
in 1 rounds
- Latest Funding Round$500K (USD), Seed
Sep 2024
- Investors
Products & Services of UmrahCash
UmrahCash offers a comprehensive portfolio of products and services, including UmrahCash App and Wallet Service.
App for depositing currency and withdrawing Saudi Riyals for pilgrims
Service to credit and withdraw funds for international travel
Apps and channels of UmrahCash
UmrahCash publishes 1 mobile app with over 500 downloads.
Funding Insights of UmrahCash
UmrahCash has successfully raised a total of $500K through 1 strategic funding round. The most recent funding activity was a Seed round of $500 thousand completed in September 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $500,000
- Total Rounds 1
- Last Round Seed — $500,000
- First Round $500,000
(Sep 2024)
- Investors Count 1
All 1 funding rounds of UmrahCash with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2024 | $500,000 | Seed | – | Adaverse | – |
1 investors in total: 1 institutional.
Investors in UmrahCash
UmrahCash has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Adaverse.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
- | – | adaverse.co | - |
Investor details for UmrahCash
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
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People of UmrahCash
1 people are tracked at UmrahCash (1 in leadership).
| Name | Role | Group |
|---|---|---|
William Phelps | Founder & CEO | Leadership |
Complete people profiles for UmrahCash
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
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Timeline of UmrahCash
2 dated milestones of UmrahCash, from founding to its latest funding, stage changes and deals.
- Founded UmrahCash is founded.
- Funding First funding round of $500K.
Competitors of UmrahCash
UmrahCash operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Mala'a, Mthmr, Tiqmo, Mod5r and Horizonbudget, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| malaa.tech | 2020 | Riyadh, Saudi Arabia | $19.01M | – | Personal finances are tracked and budgeted via a mobile app. | |
| mthmr.com | 2020 | Jeddah, Saudi Arabia | $1.6M | – | Expense management is provided via an online platform. | |
| tiqmo.com | 2020 | Riyadh, Saudi Arabia | – | – | Offers a wallet-enabled solution for money transfer and budgeting for individuals. | |
| mod5r.com | 2020 | Riyadh, Saudi Arabia | – | – | Expense management solutions are delivered via an online platform. | |
| horizonbudget.com | 2019 | Prague, Czech Republic | – | – | Offers a cloud-based platform for effective budget management. | |
| softurion.com | 2013 | Saint Gregoire, France | – | – | Personal finance software for tracking expenses, revenues, and forecasts on Mac and iPad. | |
| budgetos.com | 2019 | Paralimni, Cyprus | – | – | A cloud-based platform for efficient expense management and tracking. | |
| qsalary.com | 2021 | Riyadh, Saudi Arabia | – | – | App-based platform for employees to manage income and expenses. |
Detailed competitors of UmrahCash
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Verified entity values are shown only after access is granted.
Latest news on Umrahcash
Complete news archive for UmrahCash
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
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- Brand-specific news history
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Similar companies to UmrahCash
10 companies that operate in the same segment as UmrahCash (Investment & Financial Technology), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Commission-free trading and investment services are provided by Robinhood. | 2013 | Menlo Park, California, United States | USD 5.73 B | USD 2.98 B | 2,300 | |
Online exchange platform for cryptocurrency | 2017 | Ta Xbiex, Malta | USD 2.02 B | – | – | |
Online social trading platform for cryptocurrency, stocks, ETFs, and CFDs | 2007 | Tel Aviv, Israel | USD 422.94 M | USD 925.73 M | – | |
Financial data and investment advisory tools are offered online. | 1984 | Chicago, Illinois, United States | USD 91 M | USD 351.25 K | 6 | |
App-based brokerage stock trading platform | 1996 | Mumbai, Maharashtra, India | USD 38.41 M | USD 548.9 M | 3,830 | |
App-based platform for spare change investment | 2012 | Irvine, California, United States | USD 587.84 M | – | – | |
Smart investment portfolios are offered via an online platform. | 2015 | Bengaluru, Karnataka, India | USD 121.05 M | USD 635.51 K | 231 | |
App-based automated investment and retirement planning platform | 2010 | New York, New York, United States | USD 335 M | – | – | |
Money Forward is engaged in providing financial technology solutions. | 2012 | Minato, Tokyo, Japan | USD 42.9 M | USD 322.51 M | 2,600 | |
Wealth management solutions are delivered for investment advisors. | 2009 | Mountain View, California, United States | USD 759.1 M | – | – |
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Frequently Asked Questions about UmrahCash
UmrahCash was founded in 2024.
UmrahCash is headquartered in Jeddah, Saudi Arabia. It is registered at Jeddah, Makkah Region, Saudi Arabia.
William Phelps is the current CEO of UmrahCash. They have also founded this company.
UmrahCash is a funded company, having raised a total of $500K across 1 funding round to date. The company's 1st funding round was a Seed of $500K, raised on Sep 2024.
UmrahCash was founded in 2024 in Jeddah, Saudi Arabia, as a digital money management platform in the fintech sector. Local currency deposits are facilitated, virtual balances are issued, and cash withdrawals are supported in Jeddah, Mecca, and Medina through verified agents. Operations ensure pilgrims maintain control over funds across pre-trip, during-trip, and post-trip phases, with services centered on Saudi Arabias key pilgrimage sites.
UmrahCash offers UmrahCash App and Wallet Service.
UmrahCash has 1 investor. Key investors include Adaverse.
Yes. UmrahCash publishes UmrahCash, with over 500 downloads.