UAE-based consumer fintech platform Sav has raised $3.5 million in a Pre-Series A round led by Abu Dhabi-based Phoenix Venture Partners (PVP), with participation from co-investors in the Phoenix Venture Partners Innovation Fund.
The funding will support Sav’s expansion into Saudi Arabia, as well as product development, AI infrastructure and user acquisition across the GCC. The company has previously raised approximately $2.5 million.
Founded by Purvi Munot and Mithil Ajmera, Sav is building an AI-powered platform that brings savings, investments, gold, payments and commerce into one financial ecosystem. Users can aggregate and manage multiple financial accounts, while Sav’s proprietary SavCore infrastructure is designed to automate parts of financial decision-making.
Sav currently operates in the UAE under a DFSA Category 4 licence and is expanding across the GCC, with Saudi Arabia identified as a key growth market.
The company said its revenue streams include interchange income, wealth management fees, commerce commissions and subscriptions. According to PVP, the next phase of fintech growth in the region will increasingly focus on consumer products such as wealth management, lending, insurance and embedded finance, beyond payments infrastructure.
Source: EntArabi
