UAE fintech InvestSky raises $3.4m in pre-seed funding

UAE fintech InvestSky raises $3.4m in pre-seed funding

CAIRO: UAE-based InvestSky has raised $3.4 million in a pre-seed funding round led by Saudi venture capital firm Emkan Capital with participation from other investors. Established in 2021, InvestSky is a social investing platform tailored for the new generation of investors in the Middle East with the aim of making stock trading inclusive, intuitive and informed. In an exclusive interview with Arab News, Nitish Mittal, CEO and co-founder of InvestSky, said that the company targets non-professional investors to solve their investment needs with a community-driven approach. “Particularly across Gulf Cooperation Council countries the space is ripe for disruption, and we want to help a new era of investors to put their money to work,” Mittal told Arab News. The platform allows users to buy fractional stocks starting from $1 on a commission-free basis and provides a social community for users to collaborate. “We offer a freemium subscription-based model, where the premium plan comes with advanced features that help users make informed decisions,” Mittal explained. He also added that users will be able to use the service for free which will encourage them to switch to the subscription after recognizing the value provided by the app. “We want to take away