InvestSky, a social investing platform for a new generation of retail investors across GCC, raises $3.4 million in a pre-seed funding round led by Emkan Capital. The round also witnessed participation from investors including S3 Ventures, the Al-Romaizan Family office, Mishal Al-Mishari, the Deputy CEO of Jahez, and angel investors.
InvestSky was founded in 2021 by Nitish Mittal and Turki Alshaikh, as a social investing commission-free platform with the aim of making investing inclusive, intuitive, and informed. The platform allows users to buy fractional stocks starting from $1 and provides a social community for users to collaborate.
“We founded InvestSky on the recognition that retail investors are a hugely influential group across the middle east, yet the offering for them is clearly lagging behind. The region has not scratched the surface when it comes to the engagement and education of retail investors, especially considering the significant purchasing power, high GDP per capita, and beneficial demographics. We intend to offer an empowering platform that helps educate our users to make sound investment decisions; powered by socially connected tools that will help build a collaborative community in the region,” Nitish Mittal, CEO of InvestSky, said.
The startup also received a category 4 license with retail endorsement from Dubai Financial Services Authority (DFSA).
The InvestSky platform will also provide market intelligence data which will further empower investors to make more informed decisions aligned with their investment principles whether they are shariah-compliance or focused on positive social and environmental impacts.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.