Sav Raises USD 750,000 in Pre-Seed Round to Revolutionize Personal Savings
SAV is a homegrown hyper-personalized fintech app launched in 2022 aimed to bring relevance and sustainability to personal finances. With over 20,000+ users, SAV is building products that will help customers stress less about day-to-day money management while also laying a sustainable foundation for their financial future. Powered by Al, automation, and rewards, the Say App makes debt-free purchases lucrative and achieves long-term goals effortlessly. The app gives its customers access to more than a hundred merchants and offers unique hidden reward gems for every dirham saved on the platform.
Sav is part of the prestigious Mohammed Bin Rashid Innovation Fund’s Innovation Accelerator program. Sav has helped more than 10,000 users create saving goals upwards of AED 8mn
Dubai, United Arab Emirates, 20 March 2023: – SAV, a leading innovator in the personal savings space, today announced the successful closure of its pre-seed funding round, raising USD 750,000 in the capital. The funding was raised from prominent angel investors and fintech leaders in the Middle East and North African region.
Sav, a dynamic platform designed to facilitate financial savings for consumers, is part of the prestigious Mohammed Bin Rashid Innovation Fund’s Innovation Accelerator program. The platform makes saving money convenient, accessible, and rewarding for consumers. The app offers personalized savings plans, helps users track their progress, and rewards them for meeting their savings goals. With its user-friendly interface and powerful features, Sav is changing the way people think about saving money and helping them achieve their financial goals.
We are thrilled to have the support of such prominent investors in our mission to revolutionize personal savings, said Purvi Munot, Chief Executive Officer of Sav. This funding will allow us to bring our innovative solution to more users and continue to enhance the user experience.
Sav has already received widespread recognition and praise for its unique approach to personal savings. The app’s user-friendly design and innovative features have attracted a rapidly growing base of 10,000+ users who have created saving goals upwards of AED 8Mn. The company is poised for continued success in the coming months and years.
Commenting on the partnership, Fatima Al Naqbi, Chief Innovation Officer at the Ministry of Finance and Mohammed Bin Rashid Innovation Fund representative, said: From the very beginning, the primary objective of Mohammed Bin Rashid Innovation Fund has been to foster innovation that positively impacts communities by improving education and enhancing the quality of life. It gives us great pleasure to announce that Sav, one of our accelerator cohort members, has successfully concluded their pre-seed funding round. Sav is a pioneering organization committed to helping individuals save money and make informed financial decisions. This accomplishment serves as a testament to the caliber of Mohammed Bin Rashid Innovation Fund’s members and their significant contributions to advancing services for people through innovative solutions.
Sav’s founders have a long history of innovation in the financial technology sector, and their expertise is reflected in the app’s design and functionality. The pre-seed investment will be used to further develop the platform and expand its reach.
