Sav, an innovator in the personal savings space, announced the successful closure of its pre-seed funding round, raising $750,000 in the capital. The funding was raised from prominent angel investors and fintech leaders in the MENA region.
Sav is a platform aimed at promoting financial savings among consumers, and it is included in the distinguished Innovation Accelerator program of Mohammed Bin Rashid Innovation Fund (MBRIF). This platform aims to make saving money easier, more attainable, and more satisfying for users. Sav provides customized savings plans, enables users to monitor their advancement, and grants incentives for accomplishing their savings objectives. Using its intuitive interface and robust capabilities, Sav is revolutionizing the concept of saving money and supporting individuals in realizing their monetary aspirations.
Purvi Munot, CEO of Sav said “We are thrilled to have the support of such prominent investors in our mission to revolutionize personal savings.”
Munot added “This funding will allow us to bring our innovative solution to more users and continue to enhance the user experience.”
For its innovative strategy for personal savings, Sav has already won widespread acclaim. The app’s innovative features and user-friendly design have drawn a rapidly expanding population of 10,000+ users who have set savings goals totalling more than AED 8Mn.In the upcoming months and years, the business is well-positioned for ongoing success.
Fatima Al Naqbi, Chief Innovation Officer at the Ministry of Finance and MBRIF representative said “From the very beginning, the primary objective of MBRIF 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 calibre of MBRIF’s members and their significant contributions in advancing services for people through innovative solutions.”
The app’s layout and features are a result of the founders of Sav’s extensive track record of the invention in the financial technology industry. The pre-seed funding will be used to advance the platform’s functionality and increase its audience.
Sav is available for download on the App Store and Google Play.