UAE fintech Sav raises $3.5M pre-Series A to expand into Saudi Arabia
What's the deal? UAE-based consumer fintech SavDealroom has a profile for this one. Try Dealroom → has raised $3.5 million in a pre-Series A round led by Abu Dhabi-based Phoenix Venture Partners (PVP)Dealroom has a profile for this one. Try Dealroom →. Co-investors from the Phoenix Venture Partners Innovation FundDealroom has a profile for this one. Try Dealroom → also participated.
What's the endgame? Founded in 2022 by Purvi Munot and Mithil Ajmera, Sav runs an AI-powered personal finance platform. It lets users aggregate and manage savings, investments, credit, payments, and other financial products in a single ecosystem, powered by its proprietary infrastructure, SavCore.
The round brings Sav's total funding to roughly $6 million, following about $2.5 million raised previously. The company operates under a Dubai Financial Services Authority Category 4 license in the UAE.
Where's the money going? The funding will primarily support expansion into Saudi Arabia, a key growth market for Sav across the Gulf Cooperation Council (GCC). It will also fund product development, AI infrastructure, and user acquisition.
Why back it? PVP argues the next wave of regional fintech will come from products built on top of payment rails, not the rails themselves. "The next chapter of GCC fintech won't be defined by payments," said Steve Khayat, founder and chief executive officer of Phoenix Venture Partners.
Co-founder and executive director Faris Al-Obaid, who previously helped scale a leading GCC buy-now-pay-later platform, framed the thesis around wealth-building. "Sav is helping consumers build wealth rather than simply finance consumption," he said.
The signal: Sav's raise reflects investor appetite for consumer fintech that moves beyond payments and lending toward AI-led money management. As the GCC's payment infrastructure matures, the value is shifting to the platforms and financial products built on top of it.
Read more: wamda.com
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