Fintech startup InvestSky raises $3.4M, launches social investing platform
The startup has launched a social investing commission-free platform focused on a "new generation of investors" in the GCC. With it, the users will be able to purchase fractional stocks starting from $1 (3.67 AED).
Fintech startup InvestSky Financial Limited has raised $3.4 million in a pre-seed funding round led by Emkan Capital. Investors including S3 Ventures, Al-Romaizan Family office, and Jahez Deputy CEO Mishal Al-Mishari, among others participated in the round.
According to a press release shared by Zawya, the startup has launched a social investing commission-free platform focused on a "new generation of investors" in the GCC. The idea is to make investing inclusive, intuitive, and informed.
With the platform, users will be able to purchase fractional stocks starting from $1 (3.67 AED). It will also allow the creation of a collaborative social community for its users.
In addition, the platform will avail market intelligence data to facilitate investors to make decisions that are in line with their investment principles.
Yousef Al Yousefi, Managing Partner at S3 Capital, stated that social investing is set to transform various elements of the fragmented money management market.
Headquartered in Dubai International Financial Centre (DIFC), InvestSky was founded in 2021 by Nitish Mittal and Turki Alshaikh. It possesses a category 4 license with retail endorsement from the Dubai Financial Services Authority (DFSA).
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Edited by Kanishk Singh