What Rasseed does

Rasseed (رصيد) is a Riyadh-headquartered digital prepaid card marketplace operating exclusively in Saudi Arabia. It aggregates telecom recharge products from all five Saudi operators (STC/Sawa, Mobily, Zain, Lebara, Virgin Mobile), data packages, and international digital gift cards (Apple iTunes US/UK, Google Play, Spotify, Netflix, PlayStation, Amazon) plus gaming credits (Valorant Points, PUBG Mobile UC) and shopping/dining gift cards (Hunger Station) into a single mobile-first storefront accessible via rasseed.com and native iOS/Android apps. The platform delivers activation codes instantly via SMS, email, or in-app message after payment confirmation.

Underlying the storefront is a straightforward e-commerce architecture: catalog browsing, checkout across six payment rails (mada, Visa, Mastercard, STC Pay, UrPay, Apple Pay), automated code delivery, and an in-app wallet with cashback. Proprietary UX features include anonymous digital gifting to any Saudi mobile number and a 'Pay for Me' (ادفعلي) social payment link that expires after 24 hours. The platform is licensed by the Saudi Ministry of Commerce and verified on the 'Maarouf' (معروف) trust platform, and operates 24/7 with multi-channel customer support.

The business model is retail margin on one-time digital code resale (pay-as-you-go, no subscription, no service fees, prices inclusive of 15% VAT), supplemented by cashback promotions and discount codes that drive repeat purchases. Go-to-market is product-led growth through organic social media (Instagram, Facebook, X, LinkedIn), email newsletter, and app store discovery, with a newly launched distributor recruitment program signaling an emerging wholesale channel. The customer base comprises individual Saudi consumers as the primary segment and SMBs using prepaid cards for corporate gifting and expense management as a secondary segment.

Name

Rasseed

Legal name

Rasseed (رصيد)

Website

https://rasseed.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Rasseed is a Saudi Arabia-based digital prepaid card marketplace offering instant online recharge for all major telecom operators plus international gift cards, gaming credits, and streaming subscriptions through a mobile-first storefront, serving individual Saudi consumers and SMBs.

Ownership category

akta.pro rank

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Supply Chain, Technology or R&D, Marketing or Sales, Personnel, Operations, Infrastructure, Others

Revenue model

1. Retail Margin on Digital Card Sales: Rasseed purchases digital prepaid cards (telecom recharge, gaming, app store, streaming) in bulk from suppliers and resells them to end consumers at competitive prices. Revenue is generated as the spread between the wholesale cost and the retail price charged to customers. All prices include 15% VAT with no additional service fees. The platform supports one-time transaction purchases for individual cards across dozens of product categories including STC/Sawa, Mobily, Zain, Lebara, Virgin Mobile, iTunes (US/UK), Google Play, PlayStation, Netflix, Spotify, and gaming cards (Valorant, PUBG).
2. Cashback / Loyalty Program: Rasseed occasionally offers cashback promotions where a percentage of the purchase price is credited back to the user's in-app wallet at the end of each calendar month. This credit expires at the end of the following month if unused. This program incentivizes repeat purchases and increases wallet balance held on platform.
3. Promotional / Discount Codes: Rasseed runs promotional campaigns using discount codes that provide price reductions on card purchases. While the codes reduce the transaction value, they drive higher volume and customer acquisition. Discount codes are typically single-use per account, non-transferable to cash, and cannot be combined with other offers.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels8 records

Core offering

Rasseed is a Saudi digital prepaid card marketplace that aggregates and resells instant-delivery digital codes across telecom recharge (STC/Sawa, Mobily, Zain, Lebara, Virgin Mobile), gaming (Valorant, PUBG), app stores (iTunes US/UK, Google Play), streaming (Netflix, Spotify, Anghami), and shopping gift cards. Codes are delivered via SMS, email, or in-app message after secure payment through mada, Visa, Mastercard, STC Pay, UrPay, or Apple Pay. The platform also offers digital gifting (including anonymous gifting) and a 'Pay for Me' (ادفعلي) payment link sharing feature for end customers in Saudi Arabia.

Product overview

Rasseed is a Saudi Arabian digital storefront for prepaid recharge cards and digital gift cards. The platform operates as a consumer-facing e-commerce marketplace offering voice recharge cards for major telecom operators (STC/Sawa, Mobily, Zain, Lebara, Virgin), internet data packages, gaming cards (Valorant Points, PUBG Mobile UC), digital store gift cards (iTunes US/UK, Google Play, Amazon), streaming subscriptions (Spotify, Netflix), and general shopping gift cards. The platform is accessible via website and mobile application (iOS and Android), featuring payment integration with Mada, Visa, Mastercard, Apple Pay, STC Pay, and UrPay. Key features include instant digital delivery via SMS or email, gift-sending capabilities, and a Pay For Me payment sharing feature. The company is verified on Ma'arif platform and licensed by the Ministry of Commerce.

Differentiator

Problem solved

Functional benefit

Products and services

• Voice Recharge Cards (بطاقات الإتصالات) Digital prepaid voice recharge cards for Saudi mobile operators (STC/Sawa, Mobily, Zain, Lebara, Virgin Mobile), allowing individual consumers and businesses to top up prepaid mobile numbers across denominations from approximately 15 SAR to 460 SAR.
• Data Packages (باقات الإنترنت) Mobile internet data bundles from Saudi operators (STC QuickNet, Mobily Net, Zain Flex, Lebara Net) offering data allowances from 2GB to 300GB for periods of 1 to 3 months, with instant digital activation via SMS or email.
• Games Cards (بطاقات الألعاب) Digital gaming credit cards for purchasing in-game currency and points across popular video games including Valorant Points (KSA store at 45 SAR), PUBG Mobile UC (600+60 UC), PlayStation Plus, and other gaming platforms.
• Digital Store Cards (المتاجر الرقمية) Gift cards for app stores and digital marketplaces including iTunes US (denominations from $2 to $500), iTunes UK (£10 and £50), Google Play Saudi (50 SAR), and Amazon, enabling customers to purchase apps, games, music, movies, and digital content.
• Shopping Gift Cards (بطاقات التسوق) Shopping gift cards for retail and consumer brands including Hunger Station (50 SAR customer gift cards), Amazon, and similar brands, enabling customers to purchase gifts for personal use or for sending to others via the gifting feature.
• Movies and Music Subscriptions (أفلام وموسيقى) Subscription cards for streaming media services including Spotify (US store in $12, $36, and $72 denominations and Saudi store) and Netflix, providing access to music and video streaming content.
• Apps and Services Cards (التطبيقات والخدمات) Digital cards for various online applications and services providing access to digital subscriptions and digital service credits beyond core telecom, gaming, and entertainment categories.
• Rasseed Mobile Application Native mobile application for iOS and Android devices enabling customers to browse the catalog, purchase digital recharge cards and gift cards, send digital gifts, manage in-app wallet and cashback, and access 24/7 customer support.

Quantifiable outcome

• Instant card code delivery — codes arrive immediately upon payment confirmation, with no additional processing steps
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature5 records

Partnerships

13 partnerships are on record, tiered core.

• STC (Saudi Telecom Company) / SawacoreOthersRasseed is an authorized digital reseller of STC/Sawa prepaid recharge cards and internet packages (QuickNet). The platform offers a comprehensive catalog of STC voice recharge cards (23 SAR to 460 SAR), Sawa Flex packages, and QuickNet data packages. All STC products are available for instant digital delivery with activation codes delivered via SMS or email.
• MobilycoreOthersRasseed distributes Mobily prepaid recharge cards and internet data packages. Available denominations include 20 SAR to 395 SAR for voice recharge, and data packages ranging from 2GB to 300GB for 1–3 months.
• Zain Saudi ArabiacoreOthersRasseed offers Zain prepaid recharge cards and Flex data packages in denominations ranging from 25 SAR to 345 SAR for voice, and data packages including 30GB to 300GB for 1–3 months.
• Lebara Saudi ArabiacoreOthersRasseed distributes Lebara prepaid recharge cards and internet packages. Voice recharge options range from 23 SAR to 345 SAR, while data packages include 3GB to 10GB for 45 days to 3 months.
• Virgin Mobile Saudi ArabiacoreOthersRasseed offers Virgin Mobile Saudi Arabia prepaid recharge cards. Cards are available in denominations of 15 SAR and 50 SAR.
• Apple (iTunes / App Store)coreOthersRasseed sells iTunes gift cards for both the US store ( denominations from $2 to $500) and the UK store (10 GBP and 50 GBP). Cards are delivered digitally with 16-digit activation codes and are valid until redeemed.
• Google (Google Play)coreOthersRasseed offers Google Play gift cards for the Saudi store in 50 SAR denomination, enabling users to recharge Google Play balances and purchase apps, games, and digital content.
• SpotifycoreOthersRasseed sells Spotify subscription cards for both the Saudi store and the US store. US store cards are available in $12, $36, and $72 denominations, providing access to Spotify Premium content.
• Riot Games (Valorant)coreOthersRasseed sells Valorant Points cards in 45 SAR denomination (Saudi store), enabling gamers to purchase in-game currency for the Valorant video game.
• PUBG Mobile (Tencent Games)coreOthersRasseed offers PUBG Mobile UC (Unknown Cash) cards starting from 600+60 UC at ~35 SAR, enabling in-game purchases in the PUBG Mobile battle royale game.
• NetflixcoreOthersRasseed offers Netflix subscription cards, though specific denominations are not detailed on the website. Cards enable users to activate or extend Netflix streaming subscriptions.
• Maarouf (معروف)coreOthersRasseed is verified on Saudi Arabia's official e-commerce trust platform 'Maarouf' (معروف), which is operated under the Ministry of Commerce. This provides consumer protection verification and credibility credentials for the platform.
• Saudi Ministry of Commerce (وزارة التجارة)coreOthersRasseed is officially licensed by the Saudi Ministry of Commerce, confirming its legal status as a registered e-commerce business in the Kingdom of Saudi Arabia.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Ding: Ding is a global digital top-up platform enabling mobile recharge and prepaid purchases across 150+ countries. Directly comparable to Rasseed in product category (telecom top-up, digital prepaid) and target market (international consumers needing fast digital delivery), though operating at significantly larger geographic scale.
• Recharge.com: Recharge.com is a European digital prepaid marketplace selling mobile recharge, gaming cards, gift cards, and subscriptions to consumers. Closely aligned with Rasseed's product taxonomy and self-serve marketplace model, serving a similar 'one-stop digital prepaid' use case.
• Raise: Raise is a US-based digital and physical gift card marketplace where consumers buy and resell gift cards. Comparable to Rasseed in the gift card aggregation category, though Raise operates a secondary-market model (peer-to-peer reselling of unwanted cards) versus Rasseed's primary retail model.

Broad incumbents

• Paytm: Paytm is an Indian digital payments and financial services giant that started with mobile recharge and expanded into wallets, banking, and merchant payments. Operates at vastly larger scale than Rasseed but shares the mobile-recharge-rooted origin and PLG self-serve consumer model.
• Apple: Apple is the upstream issuer of iTunes and App Store gift cards that Rasseed resells. As the source of one of Rasseed's largest product categories, Apple represents both a key supplier and a potential disintermediator if it expands direct payment options in Saudi Arabia.
• Google Play: Google Play is the upstream issuer of Google Play gift cards that Rasseed resells in Saudi Arabia. Functions both as a critical supplier to Rasseed's digital store category and as a structural threat if Google expands direct billing for the Saudi Play Store.
• Mobily: Mobily is one of Saudi Arabia's three major telecom operators and sells its own prepaid recharge and data packages directly to consumers via the Mobily app. As both a key supplier of cards Rasseed resells and a direct competitor in the same end-customer recharge flow, Mobily represents a layer-crossover incumbent.

Regional players

• STC Pay: STC Pay is Saudi Arabia's flagship digital wallet operated by Saudi Telecom Company, supporting payments, transfers, and merchant services. Adjacent competitor that could extend into the digital gift card / prepaid marketplace space given its existing user base and payment integration.
• Etisalat: Etisalat is the UAE's largest telecom operator and sells its own prepaid recharge, data packages, and digital gift cards through its app and website. Comparable to Rasseed's product taxonomy (telecom + digital prepaid) but operates in a different GCC geography and at a different vertical layer.

Others

• Careem: Careem is a Dubai-headquartered super app (owned by Uber) operating across ride-hailing, food delivery, and digital payments in the MENA region. Thematically adjacent to Rasseed through its Saudi presence, digital wallet capabilities, and potential overlap in digital gifting/payments, though not a direct competitor in prepaid cards.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Rasseedcom
• Facebookfacebook.com/Rasseedcom
• LinkedInlinkedin.com/company/rasseedcom
• Instagraminstagram.com/rasseedcom

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rasseed