Maliyya Raises USD 1.3 Million in Seed Funding
By Maliyya - Image Credit: MAGNiTT
Maliyya, a fintech company engaged in development of a P2P lending and borrowing platform, has just closed the first seed investment round of USD$1.3 million from Ground1 Ventures, a private investment firm based out of UK. http://www.groundone.co.uk
Targeting to become a primary P2P lending and borrowing platform for the Middle East, North African and Asian Region, Maliyya is working on to roll out its MVP in the coming months. Maliyya has successfully graduated from the first cohort of DIFC Fintech Hive Accelerator (UAE) and now part of the Cloud10 Scalerator Program of C5 Accelerate based in Bahrain.
Maliyya will use this round of funding to accelerate product and technology infrastructure development while expanding its team. Joining the company’s leadership is Rizwan Warsi, a new CTO with more than 30 years of banking technology and operations experience, and delivering enterprise financial industry solutions across in Asia, Africa and Europe. In his new role, Rizwan will be tasked with supporting Maliyya to lead the engineering team and deliver the state of the art P2P platform.
Supporting Maliyya furthermore will be Gerry McGowan, CEO of Ground1 Ventures from an executive advisory support function. Gerry has been in the technology industry for over 20 years and has worked with multinational and government organizations to deliver cutting edge solutions. His knowledge and investment strategy expertise aims to help Maliyya expand its wings in the region and achieve its ambitions.