Robo-advisory Sarwa sets eye on Abu Dhabi as it raises $8.4m in new financing – The National

Robo-advisory Sarwa sets eye on Abu Dhabi as it raises $8.4m in new financing – The National

Robo-advisory Sarwa sets eyes on Abu Dhabi as it raises $8.4m in new financing. Sarwa, a Dubai-based low-cost robo-advisory platform, will open a second office in Abu Dhabi as part of a wider GCC expansion, after securing $8.4 million (Dh31m) in Series A funding from investors.. The funding round was led by Kuwait Projects Company, also known as Kipco, which has consolidated assets of more than $30 billion, with other leading investors including the Dubai International Financial Centre, Abu Dhabi Investment Office, Vision Ventures from Saudi Arabia and Hambro Perks from the UK.. Sarwa said the latest funding, which will fund its market expansion to Abu Dhabi and the wider GCC along with the growth of its tech and advisory teams and regulatory upgrades, is a "meaningful milestone" for the FinTech sector, as it is the first time a regional investment group has collaborated with a regional FinTech.. Its latest funding round takes the company's total funding to date to over $10m and follows previous rounds, including a 2017 seed round of $250,000 and the $1.3m raised in a Pre-Series A round in September 2018, led by Middle East Venture Partners, one of the region's largest venture capital firms.. "All