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

  • Date: 22-Jan-2020
  • Source: The National
  • Sector:Technology
  • Country:UAE
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Robo-advisory Sarwa sets eyes 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 is a "meaningful milestone" for the FinTech sector, as it is the first time a regional investment group has collaborated with a regional FinTech.. Sarwa is among a new wave of low-cost digital investment platforms for young professionals that gauge an investor's risk tolerance and assigns them a tailored investment portfolio of exchange traded funds (ETFs) while charging lower fees than traditional financial advisers and wealth managers.. Its latest funding round takes the company's total funding to date to over $10m and follows previous rounds, including the $1.3m raised in a pre-seeding round in September 2018, led by Middle East Venture Partners,