“Can a regional robo-advisor become the default wealth and savings platform for the MENA mass affluent?”
Sarwa launched in 2017 as the first robo-advisor in MENA, operating under DFSA's Innovation Testing License sandbox before moving to ADGM/FSRA. The product expanded from purely auto-investing into a multi-product platform: self-directed trading (Sarwa Trade), crypto (Sarwa Crypto) and a cash account (Sarwa Save). The underlying execution and custody is provided by Saxo Bank for invest/trade and Alpaca for US securities (including a fully-paid securities lending program). Funding flows have shifted from card and wire to open-banking-powered bank transfers via Lean Technologies.
Sarwa discloses Saxo Bank (custodian/broker, self-operated cash account) as its banking provider, according to the Embedded Finance Index 2026.
Sarwa does not disclose a bank charter of its own; its banking services are provided through Saxo Bank (custodian/broker, self-operated cash account).
Sarwa processes payments through Sarwa debit/credit card funding (self-operated checkout).
Sarwa's lending and capital products are provided by Alpaca (self_clearing partner for FPSL).
Sarwa connects to bank accounts through Lean Technologies.
Sarwa uses Sarwa internal FX (AED↔USD conversion at funding/withdrawal) for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 5 layers in Sarwa's stack: Payments / PSP (Sarwa debit/credit card funding (self-operated checkout)); Banking / BaaS (Saxo Bank (custodian/broker, self-operated cash account)); Lending (Alpaca (self_clearing partner for FPSL) and Fully Paid Securities Lending (FPSL) program via Alpaca); Open banking (Lean Technologies); FX & payouts (Sarwa internal FX (AED↔USD conversion at funding/withdrawal)).
Sarwa was founded by Mark Chahwan and Jad Sayegh and is founded in 2017, headquartered in Abu Dhabi, UAE (Hub71, ADGM).
Sarwa has raised ~$25M+ in total (latest round: Series B, $15M (2021)).
Get a read on where your own stack stands against Sarwa and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.