Phoenix Venture Partners leads $3.5 million round in UAE fintech Sav
UAE-based consumer fintech 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 from the investor base of Phoenix Venture Partners Innovation Fund (PVPIF). Founded in 2022 by Purvi Munot and Mithil Ajmera, Sav provides an AI-powered personal finance platform that enables users to aggregate and manage their…
Abu Dhabi-based venture capital firm Phoenix Venture Partners (PVP) has led a $3.5 million pre-Series A funding round for UAE fintech Sav, which provides an AI-driven personal finance platform. Co-investors from Phoenix Venture Partners Innovation Fund (PVPIF) also participated in the round. Founded in 2022 by Purvi Munot and Mithil Ajmera, Sav aims to aggregate and manage users' financial accounts, savings, investments, credit, payments, and other products through a unified ecosystem.
The latest funding brings Sav's total capital to approximately $6 million, following $2.5 million raised in prior rounds. The investment will primarily be used to expand into Saudi Arabia, enhance product development, and bolster Sav's AI infrastructure and user acquisition across the Gulf Cooperation Council (GCC) region.
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