InvestSky social trading platform raises $4 million in seed funding for Saudi expansion. The UAE-based fintech now eyes growth in the Kingdom after securing key approvals.
Funding Boost from Gulf Investors
InvestSky, a social trading platform from the UAE, secured $4 million in seed funding. Regional players like Emkan Capital led the round. Run Ventures, S3 Ventures by Joa Capital, and Al-Romaizan Family Office joined in. Others from the Gulf also chipped in. This brings the total funds raised to $7.4 million. The company got $3.4 million earlier in a pre-seed round. Investors back the firm’s push into retail investing across MENA.
Entry into the Saudi Market
InvestSky launched in Saudi Arabia this month. It holds a Financial Technology Experimental Permit from the Saudi Capital Market Authority. This permit lets the firm test its model under watch. The approval marks a big step for social trading in the Kingdom. Users can now access Saudi and U.S. stocks via the app. Fractional shares make entry easy for small investors.
Tie-Up with anb Capital
A deal with anb Capital powers the Saudi launch. Anb Capital, a licensed Saudi firm, handles market access and back-end support. This partnership blends InvestSky’s user-friendly app with local expertise. It stands as the first such link-up for social trading here. Retail users gain from regulated channels and shared trader insights. The setup cuts risks tied to offshore platforms.
What the Platform Offers
The app lets everyday investors follow top traders. They copy portfolios in real time. Live data and chat features add value. No big minimums block new users. Saudi stocks join U.S. ones for broader picks. The firm targets young savers new to markets. It simplifies trades without jargon. Growth comes as Saudi Arabia opens finance to more people.
Plans Ahead
InvestSky will use funds to hire in Saudi Arabia. Tech upgrades follow to handle more trades. New assets may join the list. The Kingdom serves as a base for GCC’s reach. Leaders there push digital finance and inclusion. Retail trading volumes rise fast. InvestSky fits this trend with its community focus. Watch for user numbers to climb in the coming quarters
