The story of Rasan: how Rasan (Tameeni) became a company worth more than 10 billion riyals
The story of Rasan, the company behind Tameeni: from 3 million riyals in capital in Riyadh in 2016, to a car insurance comparison platform, to a Tadawul listing and a market value above 10 billion riyals.
Full film transcript
A Saudi company that started with 3 million riyals in capital.
Today, its market value is more than 10 billion riyals.
Its name is Rasan. And most people know it by another name: Tameeni.
In 2016, buying car insurance in Saudi Arabia was an ordeal.
You called one company after another, waited for a quote, and never knew whether it was the cheapest price.
So Rasan was founded in Riyadh by a group of Saudi founders, among them Moayad Alfallaj.
In 2017, it launched Tameeni: a platform that compares car insurance prices in one place.
You enter your details, offers come in from all the insurance companies, and you choose and pay in minutes.
In its first year, it sold 600,000 policies, according to the company.
Then it expanded: health insurance, car auctions, and a platform for banks and leasing companies called Treza.
In June 2024, the company listed its shares on Tadawul.
And demand was huge: the institutional offering was covered more than 120 times.
On the first day of trading, the stock rose 30 percent. That's the maximum allowed.
In 2025, its revenue reached 653 million riyals, and its profit was more than 240 million.
And today, its market value is above 10 billion riyals. That's well over a billion dollars.
So 3 million became more than 3,000 times that.
The lesson for you as a founder: if people struggle with something every year, that's your opportunity.
Follow us at Saudi Founders.
Detailed figures and sources are in the Rasan profile in the directory.
