Sovra Raises $2 Mn in Pre-seed Round led by Pharsalus Capital

Through the Sovra app, users can hold digital dollars, earn returns on their funds, send money internationally within seconds, and make payments using a card that works worldwide. All of these services can be accessed directly from a mobile phone.

Sovra uses a self-custodial account model, meaning only the user can access and control their account. The platform and other intermediaries cannot access the funds helping ensure users maintain control of their money and continued access to their accounts.

Sovra's self-custodial system gives users full control over their own money and accounts. Only the user can access and manage their funds.

The platform acts as a technology provider that helps users manage their finances, rather than controlling or restricting access to their money.

Ahmad Wehbi, Founder and CEO of Sovra, said: “There has always been something between people and their money; a bank, a border, a fee, a policy, a form. Sometimes it worked. Sometimes it took everything. The technology to remove the middleman now exists. Sovra is the simplest way in. Your money works for you and answers only to you. If we disappear tomorrow, it’s still there. That’s not a company policy alone, but the architecture we have built for Sovra.”

Anthony Ghosn, Managing Director, Pharsalus Capital, said: "By giving people sovereign, self-custodial alternatives to fragile fiat and banking systems, Sovra is helping restore financial dignity in Lebanon and beyond. For those of us with ties to the region, these issues are deeply familiar — and Ahmad and the Sovra team stand out for having the courage and clarity to build where others have been constrained by the scale of the problem."

Founded in 2025 by Ahmad Wehbi, Sovra is a fintech platform that helps people take full control of their money. Through its mobile app, users can hold US dollars, earn returns on their funds, spend using a card that works worldwide and send money instantly at very low cost.

The platform is designed so that only users can access and control their accounts and funds. Sovra is incorporated in Delaware and operates across the Middle East and Europe, with a focus on serving customers in emerging markets.

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