Wahed announced it has raised $5 million in seed financing. Three investors participated in the round.
Wahed Invest is an SEC registered investment advisory that has created the first automated Shari’ah-compliant investment platform to serve Islamic investors across the globe.
The Wahed Platform has been designed and developed to allow clients with little financial knowledge who observe Shari’ah to invest their savings with institutional-level diversification. Wahed employs Modern Portfolio Theory to diversify investor portfolios, minimize risk, and maximize returns.
In its announcement, the company said that Wahad will use the $5 million to scale up.