The Finance World Magazine| Edition: March 2023

Fintech
UAE Fintech and e-Commerce Platforms
Founded by Successful Women
The UAE has been witnessing a boom in the fintech and e-commerce industries, and women
entrepreneurs are playing an increasingly important role in this expansion. Women-led fintech
and e-commerce platforms are disrupting the traditional business landscape in the country,
providing innovative solutions to cater to the specific needs. In this article, we will delve into
four of the successful women-led fintech and e-commerce platforms in the UAE, their impact
on the industry, and the changes they made in this highly competitive market.
Souqalmal
Ambareen Musa,
Founder of Souqalmal
Ambareen Musa founded Souqalmal,
a financial comparison website
launched in 2012, and has been
changing the way people in
the United Arab Emirates and Saudi
Arabia manage their finances. Through
Souqalmal, users can access information
on over 3,200 financial products and
services, including loans, insurance,
and accounts management.
The platform is an excellent resource
for people who want to better understand
their finances and make informed
decisions and improve their financial
literacy. Souqalmal has attracted
investments from some of the most
prominent players in the financial industry,
including GoCompare, Hummingbird,
VentureSouq, U.A.E. Exchange, NNS
Capital, and the Riyad Taqnia Fund.
These investments have helped the
company raise an impressive $15.2M
in funding.
In March 2022, Souqalmal reached
another milestone when SHUAA Capital
acquired a major stake in the company.
This acquisition was a testament to
the success of the platform and the
vision of its founder. By providing
access to financial information, Musa
is empowering people to take control
of their finances and make informed
decisions. This is especially crucial in
the current economic climate, where
financial stability is more important
than ever.
Sarwa
Nadine Mezher is a pioneer
in the financial industry. As
the co-founder of Sarwa, a
leading financial advisory
platform, she is changing the way
people invest and manage their finances.
Together with Mark Chahwan and Jad
Sayegh, Mezher established Sarwa in
2017, and it now serves a huge number
of users. The company’s revolutionary
approach to financial advisory has
quickly become popular, with clients
benefiting from the platform’s easyto-use
interface and comprehensive
investment options.
Sarwa Trade, the zero-commission,
zero-transfer fee trade podium,
launched in March 2021, marked
yet another step in the company’s
development, providing users with
a streamlined approach to trading,
making it more accessible for people
looking to enter the investment arena.
With such impressive growth, it comes
as no surprise that Sarwa has attracted
significant investment from some of
the biggest players in the industry.
In 2021, the company raised $15M in
funding from Mubadala Investment
Company, Hambro Perks Oryx Fund,
HALA Ventures, and Middle East
Venture Partners, bringing the total
funding raised to $25M.
These investments have helped Sarwa
expand its offering, making it even
easier for people to invest and manage
their finances. KIPCO and Californiabased
500 Startups are among the
many investors who have recognized
the potential of Sarwa and supported
Nadine Mezher,
Co-Founder of Sarwa
its vision. By leveraging innovative
technology, the company is making
investment accessible and affordable
to everyone. The platform provides
personalized recommendations that
cater to individual needs, taking the
complexity out of investing and making
it an enjoyable and fruitful experience
for users.
18 www.thefinanceworld.com March 2023