UAE-based MALY raises $1.6m in pre-seed round

The demand for financial tools that foster healthier saving and investment habits is high in MENA, where people face increasing economic pressures. About 60% of the population in MALY’s two primary target markets – the UAE and KSA – do not have any type of pension or savings plan.

MALY is positioned to bridge this large gap by providing an accessible, user-friendly platform that offers smart saving tools, debt management, spending guidance, and investment plans. These areas provide users with actionable steps to achieve their financial goals while building long-term stability.

“Our mission is simple yet profound: to make improving financial wellness accessible for individuals across the MENA region,” said Mo Ibrahim, Co-founder and CEO of MALY. “The remarkable pre-seed funding we have received will enable MALY to kickstart its growth journey. It will enable us to scale efficiently by creating partnerships to reach new customers and drive platform development with enriched product features.”

MALY’s automated savings app and VISA card link with all major UAE banks, enabling customers to effortlessly save by automatically rounding up small amounts from daily purchases via a built-in micro-saving tool. They can also manage outstanding debts with smart repayment goals, automate saving deposits, spend with a free VISA card, and learn about investment techniques.

The newly raised pre-seeding funding will go toward a new growth phase involving the latest AI technologies. The start-up has forged strategic partnerships with other major brands, including VISA, NymCard, and DAPI, as it aims to become a leading player in the MENA financial wellness sector.