UAE - Mubasher: The UAE-based Sarwa, an investment and personal finance platform, has closed a $15 million Series B financing round led by Mubadala Investment Company.
500 Startups, Kuwait Projects Company, Shorooq Partners, Middle East Venture Partners, DIFC, Hambro Perks Oryx Fund, HALA Ventures, and Vision Ventures also joined the financing round, according to a press release on Monday.
Representatives of Mubadala and 500 Startups are joining the board of Sarwa, a partner of the Hub71 community in Abu Dhabi.
Sarwa will use the new capital in expanding its services, launching several new products, including Sarwa Trade and Sarwa Crypto, and growing its team to tackle all aspects of personal finance.
The Co-Founder and CEO of Sarwa, Mark Chahwan, said: "We want to ensure that everyone has access to simple, smart, and affordable financial products and services. Sarwa is built on the combination of innovative tech and a customer-centric brand. Having the support of some of the world’s leading investors proves that Sarwa is well-positioned to lead this transformation in the region."
Meanwhile, the Head of Ventures and Growth at Mubadala Investment Company, Ibrahim Ajami, commented: "In just three years, the company has nearly doubled its client funds and expanded its product base to include a wider range of securities and asset classes, reflecting the potential for further exponential growth."
