UAE-based fintech Sav raises $750K in a pre-seed funding round
Founded by Purvi Munot in 2021, Sav allows users to set personalised savings plans. With these, the users can track their progress, and they get rewarded upon meeting their savings goals.
UAE-based fintech startup has raised $750,000 in a pre-seed funding round led by angel investors and fintech firms in the Middle East and North Africa (MENA) region.
The raised capital will allow Sav to reach more users and further enhance the user experience, said Purvi Munot, CEO of Sav, in a statement shared by Wamda.
Founded by Munot in 2021, Sav allows users to set personalised savings plans. With these, users can track their progress, and get rewards upon meeting savings goals.
The company claims users on its all have set saving goals upwards of AED 20 million ($5 million). It is available for download on the App Store as well as Google Play Store.
Sav is one of the firm's part of Mohammed Bin Rashid Innovation Fund's (MBRIF) Innovation Accelerator programme that aims to support innovating projects to drive growth in the UAE and beyond. The programme focuses on sectors including technology, space, education, health, clean energy, transport, and water.
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