IslamicMarkets.com and DDCAP Strengthen Collaboration with Second Round of Strategic Investment
July 21, 2020 | Updated at July 21, 2020
IslamicMarkets Limited (“IslamicMarkets.com”), the world’s leading learning and market intelligence provider for the Islamic financial and commercial markets, has secured a second round of strategic investment from DDCAP Group™ (“DDCAP”), thus further aligning the two companies’ vision for the global Islamic economy and driving IslamicMarket.com’s global expansion.
DDCAP’s additional undisclosed investment in IslamicMarkets.com comes in the midst of the COVID-19 pandemic, as the technology platform witnesses impressive growth in its learning, financial intelligence and investing offerings. The latest funding means that the company will continue to strengthen the platform, as well as expanding to new regional markets.
Shakeeb Saqlain, CEO of IslamicMarkets.com, said:
“There is a worldwide paradigm shift to a new digital economy taking place right now.
IslamicMarkets continues to be the Islamic economy’s leading learning and data technology platform with over 250,000 users. Our ongoing and extended collaboration with DDCAP will further drive our growth, even during these extraordinary times.
The digital infrastructure we have created for the global Islamic economy aims to harmonise this $5 trillion market and has been adopted by some of the largest financial institutions and regulators.”
Stella Cox CBE, Managing Director of DDCAP, said:
“In DDCAP and IslamicMarkets.com we knew that we had two businesses that already had much in common, but with each potentially offering enormous positive impact to the other. Since our stakeholder interest was reaffirmed and expanded through our role as a shareholder, we have had the opportunity to further support IslamicMarkets.com as its geographical reach and its products and services expanded, but also as the company addressed the unique set of circumstances presented to the global business community by COVID-19.
Adverse market conditions do present opportunity and IslamicMarkets.com has not only proven its resilience to adversity, but has chosen this time to launch innovative new services delivering industry-led education, knowledge and awareness. Furthermore, the company has evolved its functionality by making additional and appropriately priced technology available to individual subscribers.”
Stella Cox joins the company’s Board, which includes Adam Sadiq, Co-Founder & Managing Partner of New World Capital Advisors (NWCA) and formerly Director at State Street Global Advisors and Khalid Howladar, Senior Managing Director of R.J. Fleming & Co. and former Global Head of Islamic Finance at Moody’s Investors Service.
Last year, the company raised investment from DDCAP and New World Capital Advisors (NWCA), the London-based specialist merchant banking and investment firm. Both IslamicMarkets.com and DDCAP are represented on the UK Islamic FinTech Panel. The Panel was set up as an independent industry initiative to connect the fast-growing UK Islamic fintech industry, develop the UK ecosystem and provide a fast track to relevant departments in Her Majesty’s Government to help solve policy issues.