London-based Fintech Startup Mnaara Raises $500k in Funding
Mnaara.com, a London, UK-based fintech startup, has successfully raised USD500k in pre-seed funding. This funding round saw the participation of unnamed investors from the UK, US, Middle East, and Singapore. The funds will be utilized to expand the company's team and further develop its Shariah-compliant investment solutions that cater to the globally underserved mass-affluent market.
The driving force behind Mnaara is Saad Adada, the founder and CEO.
As a digital investment platform, Mnaara aims to provide investors with access to global private funds while adhering to Islamic finance principles. These principles impose restrictions on non-ethical activities like gambling, tobacco, alcohol, and arms. Mnaara ensures that all investments offered are fully compliant by implementing Shariah-screening guidelines, supervised by expert advisers. The platform will be made available to eligible investors publicly by the end of this year.
Mr. Adada brings with him a wealth of experience, boasting over 20 years in financial advisory and investment management, specializing in Islamic Finance. With an MBA from INSEAD and a Chartered Financial Analyst (CFA) certification, he is well-equipped to lead the company toward success.
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