News

Dubai robo-adviser raises $1.3m

robo-adviserSarwa, a Dubai-based robo-adviser, has secured $1.3 million in funding from investors including Middle East Venture Partners, a venture capital firm with offices in Beirut and Dubai. The capital will be used to finance Sarwa’s Mena expansion plans. The low-cost investment advisory platform launched in May 2017 and is currently operating under a innovation testing licence from the Dubai Financial Services Authority which allows it to work with a limited number of UAE-based clients. Sarwa expects to obtain a full licence in October which, along with the $1.3 million, will be used to expand its reach into Saudi Arabia and Egypt, the two largest wealth management markets in the region. “Up until now we’ve been very lean and focused on establishing ourselves in the UAE market but now we can refine our product and grow,” said founder and chief executive Mark Chahwan. The company also plans to raise between $2 and $4 million in another round of financing in 2019 said Chahwan. ©2018 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Jan 04, 2019

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

Roundtables

ROUNDTABLE: Hooked to the global caravan

Jan 04, 2019

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.

MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.