UAE-based fintech Sovra has raised more than $2 million in a pre-seed funding round led by Pharsalus Capital, with participation from regional and global angel investors.
Founded in 2025 by Ahmad Wehbi, the platform enables users to hold digital dollars, earn yield, send money globally within seconds, and spend through cards supported by the Visa and Mastercard networks, all through a self-custodial account that can only be accessed by the user.
The company will use the funding to expand its engineering and product teams ahead of its public launch while operating with a distributed team across the Middle East and Europe.
Press release:
Sovra, the fintech platform that provides people with a global dollar account, has raised more than $2 million in pre-seed funding. The round was led by Pharsalus Capital, with participation from leading regional and global angel investors, including Karim Atiyeh (founder of Ramp), Hisham Al-Falih (founder of Lean Technologies), Hany Rashwan (founder of 21shares), Naguib S. Sawiris (chairman of Orascom Development Holding AG) and other angel investors.
