Sav passes 100,000 users and raises $3.5mln to scale AI-native financial platform

GCC-based fintech Sav has surpassed 100,000 users and closed a US$3.5 million Pre-Series A funding round to scale its AI-native financial platform, the company announced. The financing, led by Phoenix Venture Partners and joined by 394H Capital, Vestalia Investments, Majlis Investment Management, 500 Sanabil and KAUST Innovation Ventures as well as family offices and angel investors, brings Sav’s cumulative funding to US$5.5 million.

"The way people build wealth has changed significantly. Financial lives are more distributed across geographies, institutions and asset classes, while the underlying experience of managing that money remains fragmented," said Purvi Munot, Co‑Founder and CEO of Sav. "We see open finance and AI as an opportunity to change that."

Sav, founded in 2022 by Purvi Munot and Mithil Ajmera, positions itself as a regulated consumer fintech building a financial operating system for global expatriates. The startup says around 35 million expatriates in the GCC hold accounts, savings and investments spread across multiple countries and currencies, typically without a single consolidated view. Sav's platform connects a customer’s financial accounts and uses artificial intelligence to surface personalised insights and recommend actions across saving, spending, investing and credit.

Mithil Ajmera, Co‑Founder and COO of Sav, framed the company’s approach as the next phase of fintech evolution: "Over the last decade, fintech has enabled rapid digitization of personal financial products. The next phase will be defined by platforms that connect them intelligently, securely and at scale. We believe that success in this sector will be built on trust, intelligence and disciplined execution."

The new capital will be deployed across three principal priorities over the next 12 months:

• Launching Sav’s credit product;
• Scaling the business across the GCC; and
• Building global connectivity to financial accounts.

Steve Khayat, Founder and CEO of Phoenix Venture Partners, explained the rationale for backing the founders: "Purvi and Mithil are exactly the type of founders we seek to back: ambitious, visionary, and relentlessly execution-focused."

Since its launch, Sav has expanded its product suite beyond payment cards into money intelligence, public-market investing and fractional gold and silver, and is working on next‑generation credit offerings. The company has formed strategic partnerships with Visa and Emirates Gold to support its payments and financial services proposition and operates subsidiaries in the UAE, Saudi Arabia and India.

Sav is regulated by the Dubai Financial Services Authority (DFSA) and is listed as a UAE Future100 company. The firm also notes participation in startup programmes from global technology firms including Google, Amazon and NVIDIA.

Looking ahead, Sav will seek to capitalise on its AI and open finance capabilities to provide a consolidated, actionable view of dispersed financial lives — with immediate aims to introduce credit products and expand regional reach. The company says the round will accelerate its ambition "to build Sav into a global financial institution for the next generation of consumers," as Ajmera put it, while reinforcing infrastructure for secure connectivity and scaled intelligence across clients’ accounts.