UAE platform InvestSky launches; funding round worth $3.4m unveiled

UAE platform InvestSky launches; funding round worth $3.4m unveiled

UAE - Mubasher: InvestSky, a Dubai-based social investing platform for a new generation of retail investors across the GCC, secured $3.40 million in a pre-seed funding round, according to a press release.

Emkan Capital led the funding round, with the participation of key investors, including S3 Ventures, Al Romaizan Family office, as well as Mishal Al Mishari, the Deputy CEO of Jahez, and other angel investors.

Founded in 2021, InvestSky enables users to purchase fractional stocks starting from $1 (AED 3.67), providing a social community for people to collaborate within the platform.

The startup will also offer market intelligence data, through which investors will manage to make more accurate decisions in accordance with their investment principles whether they are Sharia-compliant or focused on positive social and environmental impacts.

Meanwhile, the Dubai Financial Services Authority (DFSA) granted InvestSky a category four licence with a retail endorsement.

It is worth noting that DFSA is the independent regulator of financial and market activities conducted in or from the Dubai International Financial Centre (DIFC).

Nitish Mittal, Co-Founder and CEO of InvestSky, commented: “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 lagging behind.”

“The region