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Sav, the UAE-based AI-powered personal finance platform, has raised $3.5 million in a pre-Series A round led by Abu Dhabi’s Phoenix Venture Partners, announced 7 September 2026. The round takes Sav’s total funding to $5.5 million and comes as the company says it has passed 100,000 users on its platform.
Sav has raised $3.5 million in a pre-Series A round led by Phoenix Venture Partners, with participation from 394H Capital, Vestalia Investments, Majlis Investment Management, 500 Sanabil, KAUST Innovation Ventures, and family offices and angels, taking total funding to $5.5 million.
Sav operates under a DFSA Category 4 licence in the UAE, aggregating savings, investments, gold, payments and credit into a single platform, and says it has passed 100,000 users.
The company plans to use the funds to launch credit products, scale across the GCC with Saudi Arabia as the priority market, and build global financial account connectivity.
What the round covers
Sav was founded in 2022 by Purvi Munot, chief executive, and Mithil Ajmera, chief operating officer. The company’s AI-powered platform, built on proprietary infrastructure it calls SavCore, lets users aggregate and manage savings, investments, gold holdings, payments and commerce through one account, aiming to remove the need to juggle separate apps for each. Sav operates under a DFSA Category 4 licence in the UAE and has expanded subsidiaries into Saudi Arabia and India.
Munot said:
“Consumers are increasingly expected to make complex decisions across spending, investing, diversification and credit without a complete view.”
Steve Khayat, founder and chief executive of Phoenix Venture Partners, said: “Purvi and Mithil are exactly the type of founders we seek to back.”
Also, read Sav makes Visa its exclusive card network in the UAE and Saudi Arabia
What the funds are actually for
Sav named three specific priorities for the next 12 months: launching credit products, scaling across the GCC with Saudi Arabia as its key expansion market, and building out global financial account connectivity so the platform can pull in a broader range of accounts than it currently supports. The company hasn’t disclosed a specific timeline for the credit product launch or named which additional account types the connectivity build-out will cover.
Why it matters
For UAE’s account-aggregation fintech field
Sav’s pitch, one platform spanning savings, investments, gold and payments, sits in a crowded field of UAE fintechs each covering a slice of personal finance separately. Passing 100,000 users on that combined proposition, if the figure holds up to scrutiny, is a real signal that consumers are willing to consolidate rather than spread activity across specialist apps, though Sav’s own reported figure hasn’t been independently audited.
For Phoenix Venture Partners’ regional thesis
Phoenix Venture Partners, based in Abu Dhabi, leading this round alongside Saudi-linked backers including 500 Sanabil and KAUST Innovation Ventures signals a cross-GCC investor base betting on Sav’s expansion into Saudi Arabia specifically, rather than a UAE-only growth story.
FAQ
What does Sav actually do?
An AI-powered personal finance platform that lets users aggregate savings, investments, gold, payments and commerce in one account, operating under a DFSA Category 4 licence in the UAE.
What is Sav app?
Sav is a UAE-based AI-powered personal finance app that lets users aggregate savings, investments, gold holdings, payments and commerce in one account, built on the company’s own SavCore AI infrastructure and regulated under a DFSA Category 4 licence.
Is Sav money legit?
Sav operates under a DFSA Category 4 licence in the UAE, has raised $5.5 million to date from named institutional investors including Phoenix Venture Partners, 500 Sanabil and KAUST Innovation Ventures, and says it has passed 100,000 users.
Who are the founders of Sav money?
Purvi Munot, chief executive, and Mithil Ajmera, chief operating officer, founded Sav in 2022.