United Arab Emirates-based investment and personal finance company Sarwa has snared $15m from a Series B funding round.
The round was led by Mubadale Investment Company and also saw participation from 500 Startups, Kuwait Projects Company, Shorooq Partners, Middle East Venture Partners, Hambro perks Oryx Fund, HALA Ventures, Vision Ventures and DIFC. To date, the company claims it has raised around $25m.
Founded in 2017, Sarwa claims it is the first hybrid automated investment platform in the UAE. The company’s platform helps people make secure and effortless investments through combining investment strategies with technology.
According to Sarwa, it intends to use the new funding to expand its market position as well as growing its team and launching new products.
The company added that it aims to deliver ‘more innovative personal finance products’ – such as Sarwa Trade and Sarwa Crypto – through its mobile app. The former is a commission-free stock trading platform that enables investors to trade on major exchanges worldwide.
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