Wahed Invest Secures USD 25 Million in VC Funding to Expand its Shariah-Compliant Investment Platform

Wahed Invest (Wahed), an USA based Shariah-compliant fintech investment firm, has raised USD 25 million in venture capital (VC) funding to ensure that people can spend their funds in a diversified portfolio of securities, commodities, real estate, as well as Sukuk.

The USD 25 million funding round attracted majority of the funding from Saudi Aramco Entrepreneurship Ventures unit, Dubai-based BECO Capital and Boston-based Cue Ball Group, as well as Dubai Cultiv8 and Rasameel. 

Junaid Wahedna, the Founder of Wahed stated that the investment firm has been already licensed to operate in Saudi Arabia and intends to obtain regulatory approval in 20 countries, compared to nine currently. Wa...