Islamic finance platform closes $25mn investment

June 09, 2020 | Investor Solutions

Written by FinTech Alliance

Islamic finance platform closes $25mn investment

Wahed, an Islamic investment platform, has raised $25mn.

In Brief:

  • Wahed is based in New York and calls itself the world’s first ‘halal robo advisor’.

  • The investment was led by Saudi Aramco Entrepreneurship Ventures.

  • It also included new and existing investors.

What does this mean?

The company will use the funding to expand internationally. It will develop its current subsidiary in Saudi Arabia, where it has a licence, and aims to gain regulatory approval in 20 countries. It will focus on markets with a large Muslim population such as Indonesia and Nigeria.


Read more here.

 

More in Investor Solutions

Robinhood raises $280mn
Investor Solutions
May 05, 2020

Robinhood raises $280mn

Investment platform Robinhood has raised $280mn. In Brief: This increases the company&r...

How technology is driving international investing in the new ‘locked down world’

Posted By The Community

Investor Solutions
April 27, 2020

How technology is driving international investing in the new ‘locked down world’

As the world finds itself in lock-down, 4CoInvest uses tech to push global investing. The exclusive...

Written By: Delio

Wombat Invest launches cannabis investment fund
Investor Solutions
March 10, 2020

Wombat Invest launches cannabis investment fund

Thematic micro investing app Wombat Invest has launched a fund around cannabis. In Brief:...

There are no Knowledge Bank in this category

There are no Events in this category