UAE-based fintech Sav has raised $750,000 in a pre-seed funding round

A fintech startup based in the UAE In the yearSavIn the year It raised $750,000 in a pre-seed funding round led by angel investors and fintech companies in the Middle East and North Africa (MENA) region.

The capital raised will enable Sav to reach more users and further enhance the user experience, Sav CEO Purvi Munot said in a statement at Wamda.

Founded by Munot in 2021, Sav allows users to set up personalized savings plans. With these, users can track their progress and earn rewards when they meet savings goals.

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The company says users have set savings goals of more than AED 20 million ($5 million) across all AEDs. It is available for download on the App Store as well as the Google Play Store.

Sav is part of the Mohammed Bin Rashid Innovation Fund (MBRIF) Innovation Accelerator Program, which aims to support innovative projects to drive growth in the UAE and beyond. The program focuses on sectors including technology, space, education, health, clean energy, transportation and water.