Dubai-based fintech startup InvestSky raises $3.4mn in pre-seed funding

Dubai-based fintech startup InvestSky raises $3.4mn in pre-seed funding

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Dubai-based InvestSky, a social investing platform for a new generation of retail investors across GCC, has raised $3.4 million in a pre-seed funding round led by Emkan Capital.

The other investors include S3 Ventures, the Al-Romaizan Family office, Mishal Al-Mishari, the Deputy CEO of Jahez, and notable angel investors.

InvestSky said in a statement that it is launching a social investing commission-free platform tailored for a new generation of investors in the GCC with the aim of making investing inclusive, intuitive, and informed.

The platform allows users to buy fractional stocks starting from $1 (3.67 AED) and provides a social community for users to collaborate.

Further, it will provide market intelligence data which will further empower investors to make more informed decisions aligned with their investment principles whether they are shariah-compliance or focused on positive social and environmental impacts.

As per the statement, the startup received a category 4 license with retail endorsement from Dubai Financial Services Authority (DFSA), the Independent regulator of financial services conducted in or from DIFC.

Mr. Nitish Mittal, CEO of InvestSky, commented that, “We founded InvestSky on the recognition that retail investors are a hugely influential group across the middle east, yet the offering for them is clearly