London-based Islamic fintech startup Mnaara has concluded a pre-seed funding round, raising $500,000 from investors spanning the UK, the US, the Middle East, and Singapore.
Mnaara.com aims to empower Shariah-conscious investors by providing access to global private funds, while ensuring compliance with Islamic finance principles.
The platform employs advanced technology to break down barriers and grant individual investors entry to private funds that were traditionally limited to institutional players. Through Shariah-screening guidelines supervised by expert advisers, Mnaara ensures that all investment opportunities are fully compliant with Islamic finance standards.
The platform's commitment to democratizing access to the previously exclusive private markets is set to launch to eligible investors worldwide before the close of 2023.
By mitigating non-ethical activities and avoiding interest-based income, Mnaara empowers investors to diversify their portfolios within a Shariah-compliant framework.