The platform combines savings, investments, gold, payments, and commerce into a single ecosystem. Operating under a DFSA Category 4 license in the UAE, Sav is expanding across the GCC, with Saudi Arabia representing a key strategic growth market.
Phoenix Venture Partners Limited (PVP) , an Abu Dhabi-based venture capital fund manager, announced that it has led a US$3.5 million Pre-Series A financing round in Sav , an autonomous consumer fintech platform leveraging artificial intelligence and open finance infrastructure to help consumers save, invest, manage credit, and build wealth through a unified financial ecosystem.
The financing also included participation from several co-investors drawn from the investor base of Phoenix Venture Partners Innovation Fund CEIC Limited (PVPIF).
Founded by Purvi Munot and Mithil Ajmera, Sav is building a lifestyle-led financial platform that enables consumers to aggregate and manage all their financial accounts in one place while automating key financial decisions through its proprietary AI infrastructure, SavCore.
The platform combines savings, investments, gold, payments, , and commerce into a single ecosystem. Operating under a DFSA Category 4 license in the UAE, Sav is expanding across the GCC, with Saudi Arabia representing a key strategic growth market.
The investment reflects PVP’s conviction that the next wave of fintech innovation in the region will emerge not from payment infrastructure itself, but from the financial products and consumer experiences being built on top of it.
“Purvi and Mithil are exactly the type of founders we seek to back: ambitious, visionary, and relentlessly execution-focused. The next chapter of GCC fintech won’t be defined by payments. It will be defined by what gets built on top of payment rails: lending, insurance, wealth management, and embedded finance.”
– Steve Khayat, Founder and CEO, Phoenix Venture Partners
Infrastructure creates platforms. Platforms create ecosystems.
We believe Sav is exceptionally positioned to capitalize on this shift through its AI-first approach to financial wellness, saving, and wealth creation.”
PVP’s investment thesis is further informed by firsthand operational experience within the region’s fintech ecosystem.
“While BNPL changed how consumers access spending, we believe the next major shift will be access to AI-led money management. Sav is helping consumers build wealth rather than simply finance consumption. That’s a powerful long-term trend and one we believe remains significantly underappreciated.”
– Faris Al-Obaid, Co-Founder and Executive Director, Phoenix Venture Partners
Having played a direct role in the scaling journey of one of the GCC’s leading Buy Now, Pay Later (BNPL) platforms, Faris believes the next major fintech category is already beginning to emerge.
“A generation is building wealth for the first time, across more borders than any before it, and the financial system was never designed for them. Their accounts sit in different countries, their credit history resets every time they move, and no institution ever sees the whole picture. We are building the platform that does: one that understands a person’s entire financial life and acts on it, so their money works as hard and moves as freely as they do. From our first conversations, the PVP team understood that ambition. This partnership will accelerate our expansion into Saudi Arabia, deepen our AI capabilities, and take us closer to a future where financial intelligence is not a privilege reserved for the few, but infrastructure available to everyone.”
– Purvi Munot, Co-founder and CEO, Sav
Sav has raised approximately US$2.5 million in previous funding rounds and has demonstrated strong early growth supported by efficient customer acquisition economics and diversified revenue streams spanning interchange income, wealth management fees, commerce commissions, and subscriptions.
The US$3.5 million Pre-Series A round will primarily support the company’s go-to-market expansion into Saudi Arabia, while accelerating product development, AI infrastructure, and user acquisition across the GCC.
