Sarwa, a robo-advisory platform based in the UAE, has raised $15 million in a Series B round led by Emirates’ state-owned holding firm Mubadala Investment Company.
The fintech company stated that the new funding round brings the low-cost trading platform’s total funding from regional and international investors to around $25 million since it was founded in 2017. Sarwa intends to utilize the new funds to strengthen its market position, expand its workforce, and introduce various new products.
Kuwait Projects Company, Venture capital firm 500 Startups, Middle East Venture Partners, Shorooq Partners, Hambro Perks Oryx Fund, DIFC, Hala Ventures, and Vision Ventures also participated in the funding round.
“Everyone on the team is excited to begin this new chapter. Thousands of clients already use Sarwa to grow their money and build a better future, and this investment will fuel our growth so that we can reach millions more. We want to ensure that everyone has access to simple, smart, and affordable financial products and services. Sarwa is built on the combination of innovative tech and a customer-centric brand. Having the support of some of the world’s leading investors proves that Sarwa is well-positioned to lead this transformation in the region. We will continue helping our clients build for a better financial future.”
Mr. Ibrahim Ajami, Head of Ventures and Growth at Mubadala Investment Company said, “Sarwa is revolutionizing the financial services landscape in the Middle East by offering a range of investment solutions to a large market that has had little access to such services in the past. In just three years, the company has nearly doubled its client funds and expanded its product base to include a wider range of securities and asset classes, reflecting the potential for further exponential growth.”
“When Mubadala looks at early-stage investment opportunities, the quality of the founders is of paramount importance, and we strongly believe that Sarwa’s management team has the vision and passion to lead the company into its next phase of growth,” Mr. Ajami further added.
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