Sav Closes $3.5M Pre-Series A to Expand AI-Driven Financial Platform for Global Expats
aiinsider ·
Sav, a fintech company based in the Gulf Cooperation Council region, has successfully closed a $3.5 million Pre-Series A funding round. This investment is led by Phoenix Venture Partners and includes participation from several other firms such as 394H Capital and KAUST Innovation Ventures. The capital will be used to expand Sav’s AI-driven financial platform, which specifically targets the approximately 35 million expatriates living in the GCC. Founded in 2022 by Purvi Munot and Mithil Ajmera, the company aims to unify the fragmented financial lives of its users across multiple countries and currencies. Sav currently serves over 100,000 users and offers services ranging from money intelligence to public-market investing and fractional precious metals. The newly raised funds will support the launch of an upcoming credit product and facilitate broader global account connectivity. Additionally, the company plans to expand its operations across the GCC region over the next year. Sav operates subsidiaries in the UAE, Saudi Arabia, and India, and is regulated by the Dubai Financial Services Authority.
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