Islamic real estate crowdfunding platform EthisCrowd raises 0.5 mln Singapore dollars seed funding
Photo: Kampung Islami Thoyibah Phase 1 development in Indonesia / Courtesy EthisCrowd
EthisCrowd.com, a Singapore-based Islamic real estate crowdfunding platform, has raised 0.5 million Singapore dollars ($363,000) in cash and kind seed funding, the company said in a statement today.
The round was led by Azmi Global, a subsidiary of Malaysian law firm Azmi & Associates, and Quest Ventures, a Singapore-based venture fund. Angel investors from Singapore and the Middle East also invested, said EthisCrowd.
Azmi & Associates has a strong Islamic finance practice in Malaysia and sees the potential for Islamic crowdfunding to potentially fill gaps in the industry, Ahmad Lutfi, the firm’s managing partner and head of Islamic banking said.
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