Sav raises $3.5M pre-Series A for AI personal finance in UAE
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). The round brings Sav’s total funding to approximately $6 million.
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 financial accounts, savings, investments, credit, payments and other financial products through a single ecosystem. The company operates under a DFSA Category 4 license in the UAE.
PVP’s investment reflects its conviction that the next wave of fintech innovation in the region will emerge not from payment infrastructure itself, but from the financial products and consumer experiences being built on top of it.
The capital will primarily support Sav’s expansion into Saudi Arabia, alongside product development, strengthening its AI infrastructure and accelerating user acquisition across the GCC.
"Purvi and Mithil are exactly the type of founders we seek to back: ambitious, visionary, and relentlessly execution-focused," said Steve Khayat, Founder and CEO of Phoenix Venture Partners.
The next chapter of GCC fintech won't be defined by payments. It will be defined by what gets built on top of payment rails: lending, insurance, wealth management, and embedded finance.
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We believe Sav is exceptionally positioned to capitalize on this shift through its AI-first approach to financial wellness, saving, and wealth creation.
Sav's Co-founder and CEO, Purvi Munot, welcomed Phoenix Venture Partners as the lead investor in the round: “A generation is building wealth for the first time, across more borders than any before it, and the financial system was never designed for them.
Their accounts sit in different countries, their credit history resets every time they move, and no institution ever sees the whole picture. We are building the platform that does: one that understands a person's entire financial life and acts on it, so their money works as hard and moves as freely as they do.
From our first conversations, the PVP team understood that ambition. This partnership will accelerate our expansion into Saudi Arabia, deepen our AI capabilities, and take us closer to a future where financial intelligence is not a privilege reserved for the few, but infrastructure available to everyone.”
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