Key Takeaways
- • Phoenix Venture Partners led a $3.5 million Pre-Series A financing round in Sav, an AI-driven autonomous fintech platform operating across the GCC with regulatory licensing in the UAE under DFSA Category 4.
- • Sav aggregates consumer financial accounts (savings, investments, gold, payments, commerce) into a unified ecosystem powered by proprietary AI infrastructure called SavCore, enabling automated financial decision-making and wealth management.
- • The platform has surpassed 100,000 users and is strategically expanding into Saudi Arabia, a key growth market, with co-investor participation from the Phoenix Venture Partners Innovation Fund investor base including 394H Capital, Vestalia Investments, and Majlis Investment.
- • Sav was founded by Purvi Munot and Mithil Ajmera and represents PVP's thesis that GCC fintech innovation will shift from payment infrastructure to higher-value products built on top of payment rails—including lending, insurance, wealth management, and embedded finance.
- • The investment reflects conviction in the next wave of regional fintech innovation moving beyond payments infrastructure toward consumer financial products and experiences that drive wealth creation.
Summary
Phoenix Venture Partners Limited (PVP), an Abu Dhabi-based venture capital fund manager, announced on September 7, 2026, that it has led a $3.5 million Pre-Series A financing round in Sav, an autonomous consumer fintech platform leveraging artificial intelligence and open finance infrastructure. The round included participation from co-investors drawn from the Phoenix Venture Partners Innovation Fund CEIC Limited investor base, including 394H Capital, Vestalia Investments, and Majlis Investment.
Sav, founded by Purvi Munot and Mithil Ajmera, has developed a lifestyle-led financial platform that aggregates consumer financial accounts into a single unified ecosystem. The platform's core technology, SavCore, is a proprietary AI infrastructure that automates key financial decisions and integrates savings, investments, gold, payments, and commerce functionality. Operating under a DFSA Category 4 license in the UAE, Sav has achieved product-market traction with over 100,000 users and is now expanding across the broader GCC region with Saudi Arabia identified as a strategic priority market.
Steve Khayat, Founder and CEO of Phoenix Venture Partners, characterized the founders as "ambitious, visionary, and relentlessly execution-focused" and articulated the firm's broader investment thesis. "The next chapter of GCC fintech won't be defined by payments," Khayat stated. "It will be defined by what gets built on top of payment rails: lending, insurance, wealth management, and embedded finance." This positioning reflects a strategic shift in regional fintech innovation away from foundational payment infrastructure toward higher-value financial products and consumer experiences that create wealth management capabilities and integrated financial ecosystems.
The investment demonstrates institutional conviction that artificial intelligence-native consumer fintech platforms addressing fragmented financial management across the GCC represent a significant opportunity for capital deployment and value creation in the region's evolving digital financial services landscape.
Sav, founded by Purvi Munot and Mithil Ajmera, has developed a lifestyle-led financial platform that aggregates consumer financial accounts into a single unified ecosystem. The platform's core technology, SavCore, is a proprietary AI infrastructure that automates key financial decisions and integrates savings, investments, gold, payments, and commerce functionality. Operating under a DFSA Category 4 license in the UAE, Sav has achieved product-market traction with over 100,000 users and is now expanding across the broader GCC region with Saudi Arabia identified as a strategic priority market.
Steve Khayat, Founder and CEO of Phoenix Venture Partners, characterized the founders as "ambitious, visionary, and relentlessly execution-focused" and articulated the firm's broader investment thesis. "The next chapter of GCC fintech won't be defined by payments," Khayat stated. "It will be defined by what gets built on top of payment rails: lending, insurance, wealth management, and embedded finance." This positioning reflects a strategic shift in regional fintech innovation away from foundational payment infrastructure toward higher-value financial products and consumer experiences that create wealth management capabilities and integrated financial ecosystems.
The investment demonstrates institutional conviction that artificial intelligence-native consumer fintech platforms addressing fragmented financial management across the GCC represent a significant opportunity for capital deployment and value creation in the region's evolving digital financial services landscape.
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