Robo advisory Jarvis reaches UAE market, raises funds
- ByStartupStory | August 11, 2022
Jarvis Invest, a Mumbai-based Robo advising platform, announced on Thursday that it had received $600,000 from a major family office in the UAE, marking its debut in the area. The cash will be used to develop new goods for the worldwide market, open an office in Dubai, and expand the company.
The AI-based advisory will function under the Dubai International Finance Center’s (DIFC) AI Innovation License and is in the process of seeking a fund manager’s license from the Dubai Financial Services Authority.
It plans to deliver a B2B solution for banks and asset managers called White label Jarvis as early as November 2022. Banks and wealth managers will utilize the product to provide advice to their consumers in local markets such as the UAE. This will be followed by launches in the United States and the Middle East.
Sarwa’s board of directors will now include representatives from Mubadala and 500 Startups, the company said on Monday. ‘Sarwa will use the extra money to further develop its market position, strengthen its staff, and introduce several new products,’ the company said.
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