Sarwa, the Mena-based personal investing platform, has secured US$15 million in funding from local venture capital firms and fund managers.
The series B round of financing was led by Mubadala Investment Company and Oryx Fund, the Mena-based VC firm backed by Hambro Perks.
Since launching in 2018, Sarwa’s platform has seen its client funds almost double, helped by an influx of new clients in 2020. It has also raised $25 million from regional and international investors as well as government funds.
Based in Abu Dhabi’s fintech accelerator Hub71, Sarwa was awarded the first innovation testing licence from the Dubai Financial Services Authority for its Sarwa Invest.
The new capital will be used to recruit more staff and launch new products including Sarwa Trade, a commission-free trading platform.
©2021 funds global mena