Led · Equity · Feb 2024

Mushtari is a one-stop platform for business owners, entrepreneurs, and investors that aims to create accessible business opportunities across the region. The company is co-founded by Abdulla Saleem and Waleed Saleem, with Abdulla Saleem serving as CEO. Mushtari positions itself as a marketplace to help entrepreneurs secure funding and enable investors to build diversified portfolios. The team said the investment secured via Beban provided mentorship, exposure, and validation of its vision. Hope Ventures and Rasameel Investments' co-investment is expected to boost Mushtari's operational capabilities and support expansion into untapped markets. The company emphasizes empowering entrepreneurs and building a leading regional marketplace to foster success and opportunities for all.

Participated · Series B · Jun 2022

Wahed operates a digital platform that provides a suite of Shariah-compliant investing products, including managed portfolios and venture and real estate investments. The company positions itself around accessible, affordable and values-based investing to advance financial inclusion. It intends to use the new funds to expand operations and its development efforts. Wahed serves more than 400,000 customers globally and manages over $1 billion in assets. Founded in 2015 and based in London, the company has made inroads in Shariah-compliant investing through its product offerings. The recent investment was presented as part of its ongoing growth strategy. Wahed is a New York-headquartered global Islamic fintech company that offers individuals a way to invest ethically. The company provides a quick, easy and affordable investing platform focused on ethical and Sharia-compliant products. Wahed is licensed in nine jurisdictions, operates through 11 offices, and serves over 300,000 customers across its entities. The company plans to use the Series B proceeds to launch an ethical neobank on its platform, enabling users to fulfill banking and investing needs in a single app. Wahed’s mission is to reduce financial exclusion by encouraging ethically focused investing. Recent corporate moves include appointing Haroon Mokhtarzada, William Haney and Lori Richards to its Board of Directors. Wahed is a New York-based fintech that describes itself as a digital Islamic investment platform and the world’s first halal robo-adviser. Its core product is a robo-advisory platform offering Sharia-compliant/ethical investment services and it currently operates in the U.S. and U.K. The platform serves more than 100,000 clients globally. Wahed plans international expansion, targeting large Muslim markets including Indonesia, Nigeria, India and the CIS, and is developing a subsidiary in Saudi Arabia. The company launched in Malaysia after receiving the country’s first Islamic Robo Advisory license and is considering listing an Islamic ETF on the Saudi stock exchange. According to Crunchbase, Wahed has raised a total of $40 million since its 2015 founding by Junaid Wahedna. Wahed Invest operates a Halal digital investment platform that lets savers invest in globally diversified, ethically responsible portfolios of stocks, Sukuk (Islamic bonds) and gold with a £100 minimum. Portfolios are approved by an Ethical Review Board and the platform is designed to provide a non‑lending savings solution for Muslim customers. Founded in New York in 2015 by Junaid Wahedna, Wahed launched in the US in 2017 and expanded to the UK in August 2018. The company is registering for an E‑Money License with the UK FCA as it scales internationally. Wahed plans launches in the GCC and ASEAN markets and aims to serve up to 1.5 billion Muslims worldwide. Financially, it has raised nearly £12m since inception, including an additional £6m this year, and its valuation has risen to over £75m. Wahed Invest is a New York City–based digital halal-focused ethical investing platform and SEC-registered investment advisor led by CEO Junaid Wahedna. The platform enables users to invest in ethically responsible portfolios approved by an Ethical Review Board that screens out companies involved in liquor, firearms, gambling and tobacco. Customers can rollover IRA and 401(k) assets onto Wahed's platform. The company announced plans to enable people in the U.K. to invest in halal-compliant entities by the end of 2017. Wahed closed a $7M seed funding round. Backers included Cue Ball Capital and Beco Capital.