Rasan
Rasan is a publicly listed Saudi fintech and insurtech operating Tameeni (insurance aggregator), Treza (B2B leasing platform), Rsolutions analytics (R2/R3), and Awalmazad (auto auction), serving 12M+ consumers and 22 banks plus 24 insurers across Saudi Arabia, with engineering offices in the UAE and Egypt.
- Company typePublic
- Founded2016
- HeadquartersDubai, United Arab Emirates
- Headcount251–500
- GTM typeB2B and B2C
- OfferingSoftware
What Rasan does
Rasan Information Technology Company is a Riyadh-headquartered, publicly listed (Tadawul: 8313) fintech and insurtech group operating primarily in Saudi Arabia with engineering and operational offices in Dubai and Cairo. The company was founded in 2016 and listed on the Saudi Exchange Main Market in May 2024 via an IPO that offered 30% of share capital. Its platform ecosystem is anchored by Tameeni, the first online insurance aggregator in Saudi Arabia (launched 2017), which compares and distributes motor, health, life, and general insurance products across roughly 24 insurance partners. Complementary B2B platforms include Treza (digital insurance management for banks, insurers, and leasing intermediaries in the motor lease ecosystem), R2 and R3 (data analytics solutions for portfolio performance, pricing, and market intelligence at insurance and motor leasing companies), and Awalmazad (online auto auction platform for salvage and repossessed vehicles). Rasan also holds SAMA initial approval to establish Next Fin Solutions, a digital financing brokerage entity extending the platform beyond insurance.
The company's technology stack is proprietary and cloud-native, built in-house across its three geographies, with more than 500 integration points and 800+ data ingestion points enabling ecosystem connectivity with 22 banks and non-bank financial institutions, 24 insurers, and 60+ partners. Revenue is generated through three complementary streams: transaction-based commissions on insurance policies distributed through Tameeni, recurring B2B platform fees for Treza and Rsolutions, and transaction fees from Awalmazad auctions. Distribution combines a self-serve, product-led growth motion on the consumer side with an enterprise sales motion anchored by flagship partnerships with Saudi National Bank, Abdul Latif Jameel United Finance, and government-linked channels such as the Musaned platform. In FY 2025, Rasan reported SAR 653 million in revenue (82% YoY growth), 44.9% adjusted EBITDA margin, and SAR 269 million in adjusted net income, with Tameeni holding approximately 43% of KSA personal motor insurance GWP market share and Treza approximately 62% of motor lease insurance GWP market share.
Rasan firmographics
Firmographics- Name
- Rasan
- Legal name
- Rasan Information Technology Company
- Website
- https://rasan.co
- Company type
- Public
- Founded year
- 2016
- Operating status
- Ipo
- Headcount range
- 251–500 employees
- Short description
- Rasan is a publicly listed Saudi fintech and insurtech operating Tameeni (insurance aggregator), Treza (B2B leasing platform), Rsolutions analytics (R2/R3), and Awalmazad (auto auction), serving 12M+ consumers and 22 banks plus 24 insurers across Saudi Arabia, with engineering offices in the UAE and Egypt.
- Ownership category
- akta.pro rank
Rasan industry classification
Industry- Product category
- Insurance Technology (InsurTech)
- NAICS
- Insurance Agencies and Brokerages (524210)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Digital Distribution & Comparison Platforms (Aggregators/Marketplaces) (FSAGAGAA)
- akta.pro secondary industry
- Pricing, Revenue & Commercial Analytics (BPAHALAM)
Keywords
Where Rasan is headquartered
LocationHeadquarters
- HQ city
- Dubai
- HQ country
- United Arab Emirates
- HQ region
- Middle East
Offices3 records
Markets served
Rasan business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Insurance Aggregator Commissions: Revenue from insurance product distribution through Tameeni platform, earning commissions on motor, health, life, and general insurance policies sold. Growth driven by Motor Retail, Motor Leasing, and Health segments with new product launches including Health Individual, Home, and Protection & Savings insurance.
- B2B Technology Platform Fees: Treza platform generates fees from banks, insurance companies, and leasing intermediaries for digital vehicle insurance management solutions.
- Data Analytics Solutions (R2/R3): Rsolutions analytics products generate revenue from insurance and leasing companies for portfolio insights, pricing, and market intelligence tools.
- Online Auto Auction (Awalmazad): Platform earns fees from auctioning salvage and repossessed vehicles for insurance companies and leasing providers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Insurance products through Tameeni platform are priced and sold on a per-policy basis with transparent comparison and pricing. |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels6 records
Rasan product offering
Product offeringCore offering
Rasan operates a digital ecosystem for insurance and financial services, led by Tameeni, the first online insurance aggregator in Saudi Arabia enabling consumers to compare and purchase motor, health, life, and general insurance. It complements this with B2B platforms (Treza for leased vehicle insurance management, Rsolutions R2/R3 for data analytics and portfolio insights) and Awalmazad, an online auto auction platform for salvage and repossessed vehicles. Together these platforms connect 24 insurance companies, 22 banks, and 12M+ customers, monetized via commissions, recurring platform fees, and auction transaction fees.
Product overview
Rasan operates a multi-product platform ecosystem for the Saudi insurance and fintech market. The core offerings include: Tameeni (flagship insurance aggregator for motor, health, life, and general insurance), Treza (B2B leased vehicle insurance platform), Rsolutions analytics products (R2 for insurance companies, R3 for motor leasing companies), and Awalmazad (online auto auction). Together, 13+ products serve 12M+ customers through connections with insurance companies, banks, and leasing providers, enabling end-to-end insurance distribution, leasing management, and data-driven decision-making.
Differentiator
Problem solved
Functional benefit
Brands
- Tameeni: First online insurance aggregator in Saudi Arabia offering motor, health, life, and general insurance products
- Treza
- Rsolutions (R2/R3)
- Awalmazad
Products and services
- Tameeni First online insurance aggregator in Saudi Arabia offering motor, health, life, and general insurance products; enables customers to compare, purchase, and manage insurance policies with speed, simplicity, and transparency through web and mobile app.
- Treza B2B technology platform for banks, insurance companies, and intermediaries serving the leased vehicle ecosystem; provides comprehensive insurance management for motor leasing operations.
- R2 (Rsolutions) Data analytics solution for insurance companies, designed by industry professionals, enhancing portfolio performance monitoring, pricing, reserving, and other key activities through advanced analytical insights and AI/actuarial capabilities.
- R3 (Rsolutions) Data-driven portfolio insights and market intelligence tool tailored for motor leasing companies, enabling smarter and faster decision-making through real-time analytics and market intelligence.
- Awalmazad Leading online auto auction platform in Saudi Arabia specializing in the sale of salvage and repossessed vehicles for insurance companies and leasing providers.
- Next Fin Solutions Digital financing brokerage company (SAMA initial approval received), expanding Rasan's footprint into the financing intermediation sector.
- Health Individual, Home, and Protection & Savings Insurance Products New insurance product lines launched in 2025 on the Tameeni platform covering Health Individual, Home, and Protection & Savings insurance, extending the aggregator's footprint beyond motor insurance.
- Domestic Worker Insurance (Musaned Platform) Domestic worker insurance product distributed via the Musaned Platform following a public tender win by Tameeni in 2024.
Quantifiable outcome
- Tameeni Motor market share increased from 30% (2020) to ~47% (2023) of personal motor insurance GWP in KSA
- +5 more outcomes
Companies that use Rasan
Customer profileNamed customers6 records
Segments5 records
Ideal customer profiles5 records
Rasan technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability3 records
Feature7 records
Rasan partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered supporting, core and strategic.
- OpenWaysupportingOpenWay's Way4 cloud-native payment platform is profiled as a technology partner enabling fintech companies in the Middle East to overcome infrastructure barriers and scale sustainably. Rasan is featured alongside other regional fintech companies.
- Saudi National BankcoreTameeni (Rasan's subsidiary) signed an insurance brokerage agreement with Saudi National Bank for managing motor lease vehicle insurance, distributing insurance products through Saudi National Bank's customer base.
- Abdul Latif Jameel United FinancecoreStrategic agreement signed between Rasan and Abdul Latif Jameel United Finance for financial services collaboration, likely involving vehicle financing and insurance integration.
- Musaned PlatformsupportingTameeni won a tender via the Musaned Platform to provide domestic worker insurance, expanding distribution into the government-linked HR services ecosystem.
- SAMA (Saudi Central Bank) - Next Fin SolutionsstrategicRasan obtained SAMA's initial approval to establish Next Fin Solutions, a digital financing brokerage company, expanding into the financing intermediation sector under Saudi Central Bank regulation.
- ELMcoreRasan signed a partnership agreement with ELM during its participation in the GITEX 2022 exhibition. The partnership focuses on strategic collaboration within the fintech and insurtech ecosystem.
- 24 Insurance CompaniescorePartnership network of 24 insurance companies across motor, health, life, and general insurance verticals distributing products through Rasan's digital platforms.
- 22 Banks and NBFI PartnerscorePartnership network of 22 banks and non-bank financial institutions using Rasan's platforms for insurance distribution and financing intermediation.
Scale indicators15 records
Recent moves7 records
Expansion highlights6 records
Rasan competitors and assessment
Company assessmentDirect peers
- PB Fintech (Policybazaar): India's leading online insurance aggregator and parent of Policybazaar, Paisabazaar, and Lendingkart; closest global comparable to Tameeni given its marketplace model, multiple insurance carrier integrations, and listed equity status.
- SelectQuote: US public insurance distribution platform comparing and selling life, auto, home, and health insurance across multiple carriers; directly comparable to Tameeni's aggregator take-rate model and senior demographic focus.
- Coverfox: Indian digital insurance broker and comparison platform offering motor, health, and life insurance from multiple carriers; comparable aggregator play in an emerging market, similar to Rasan's KSA focus.
- NerdWallet: US-listed consumer financial product comparison platform with insurance verticals; similar lead-generation, SEO-driven, and aggregator economics to Tameeni, with a focus on transparency and product comparison.
- GoCompare (GoCo Group): UK insurance and financial services comparison platform switching insurance customers between carriers; directly comparable aggregator with similar carrier-agnostic distribution model.
Regional players
- Yallacompare: UAE-based financial product comparison platform for banking, insurance, and credit cards; regional peer with similar aggregator economics, though primarily serves UAE rather than Saudi Arabia.
- Souqalmal: UAE financial comparison platform covering banking, insurance, and education products; comparable regional aggregator competing in MENA financial product distribution.
Emerging players
- Acko General Insurance: India-based digital-first insurer and tech-driven insurance platform offering motor, health, and lifestyle products; comparable as a tech-native insurtech with carrier partnerships and proprietary underwriting, though it underwrites risk rather than purely aggregates.
Broad incumbents
- MoneySupermarket Group: UK-listed price comparison platform covering insurance, banking, and energy; broader incumbent comparison business with established brand, similar aggregator/take-rate economics at scale.
Others
- Tamatem Games / Tabby / STC Pay (regional fintechs): Tabby is a Saudi/UAE BNPL fintech; included as a Saudi fintech ecosystem peer illustrating the broader regional capital markets and digital finance context, but not a direct insurance competitor.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Rasan social profiles
Digital presenceRasan financial estimates
Financial estimateRevenue estimate
Valuation estimate
Rasan leadership team
Management profileNumber of profiles
Profiles13 records
Rasan subsidiaries and ownership
Company hierarchySubsidiaries6 records
Rasan funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Rasan M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Rasan
What does Rasan do?
Rasan operates a digital ecosystem for insurance and financial services, led by Tameeni, the first online insurance aggregator in Saudi Arabia enabling consumers to compare and purchase motor, health, life, and general insurance. It complements this with B2B platforms (Treza for leased vehicle insurance management, Rsolutions R2/R3 for data analytics and portfolio insights) and Awalmazad, an online auto auction platform for salvage and repossessed vehicles. Together these platforms connect 24 insurance companies, 22 banks, and 12M+ customers, monetized via commissions, recurring platform fees, and auction transaction fees.
Is Rasan a public or private company?
Rasan is a public company. It is classified as public and is currently ipo.
When was Rasan founded?
Rasan was founded in 2016. It employs 251 to 500 people.
Where is Rasan based?
Rasan is headquartered in Dubai, United Arab Emirates, in the Middle East region.
How does Rasan make money?
Four revenue lines are on record. Insurance Aggregator Commissions are the primary driver. The others are B2B Technology Platform Fees, data Analytics Solutions (R2/R3) and online Auto Auction (Awalmazad).
Who are Rasan's main competitors?
Direct peers on record are PB Fintech (Policybazaar), SelectQuote, Coverfox, NerdWallet and GoCompare (GoCo Group). Regional players are Yallacompare and Souqalmal. Acko General Insurance is listed as an emerging player. MoneySupermarket Group is listed as a broad incumbent. Tamatem Games / Tabby / STC Pay (regional fintechs) is listed as an others.
Does Rasan have an API?
No public API is recorded for Rasan.
What industry is Rasan in?
Rasan's product category is Insurance Technology (InsurTech). Its primary akta.pro industry code is FSAGAGAA, Digital Distribution & Comparison Platforms (Aggregators/Marketplaces), with a secondary code of BPAHALAM, Pricing, Revenue & Commercial Analytics. Its NAICS code is 524210 and its SIC code is 6411.