Investors warming to Islamic fintechs but big-ticket deals still far away for most
Operating on the back of an estimated $2 trillion global Islamic finance market, Shariah-compliant fintechs should be attracting more interest from investors and higher funding amounts.
The giants of the field, such as Wahed Invest and Alami, may be flush with funding, but some of those down the food chain find they are scrapping for crumbs, despite the much-hyped potential of the segment—at least by those within it.
“We have got used to lowering our expectations and are prepared for a long slog,” said the founder of one disheartened fintech to Salaam Gateway.
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