Fintech startup Wahed closes a $8M funding round from BECO Capital and Cue Ball Capital
By Salaam Gateway
Dubai, United Arab Emirates, October 24, 2018 – Wahed Invest (“Wahed”), a New York headquartered investing platform, has raised an additional $8m in Q2 this year from existing investors to accelerate development of a global savings solution and international expansion. The digital investment company received this funding from existing investors, Boston based Cue Ball Capital, and BECO Capital, a Middle Eastern VC known for backing the GCC’s leading startups. This brings its total funding to over $15 million since inception.
Wahed Invest revolutionized the industry with the first-ever halal digital investment advisor, allowing savers from all income brackets to invest in a globally diversified portfolio of ethically responsible stocks, Sukuk and gold with as little as $100.
According to Founder and CEO Junaid Wahedna, “After our traction in the US and UK, we are actively looking to expand internationally to offer our product to the world”. Wahed aspires to lead innovation in the growing Islamic Finance sector and provide a non-lending based savings solution to the 1.5 billion Muslims worldwide”