Today marks a momentous occasion in the history of Mnaara, a Shariah-compliant digital investment platform – the completion of a US$500,000 pre-seed round funded by investors from the UK, US, Middle East and Singapore. The funding comes at a crucial time for Mnaara, as it seeks to grow its team and develop its investment solutions for the mass-affluent market.
With a market that is increasingly underserved, Mnaara seeks to provide equitable access to Shariah-compliant global private markets funds in a complete digital experience. Funds specifically follow strict Shariah screening guidelines which bar activities such as gambling, tobacco, alcohol, and arms, and also limit and control the use of excessive leverage and financial derivatives.
Mnaara founder and CEO, Saad Adada, is enthusiastic about the prospects of the platform. Adada has more than 20 years’ experience himself within major financial institutions in the Middle East, and hopes to enable a community of Shariah-conscious investors with his platform: connecting them with the best investment opportunities globally.
Indeed, London is the ideal spot for Mnaara. Locally, the underserved Shariah-conscious investors have limited options when it comes to diversifying their investments, whilst also maintaining a Shariah-compliant portfolio. On the other hand, the city’s digital reach can easily connect Shariah-compliant investors worldwide to Mnaara too.
These combined aspects make London the perfect base for Mnaara, and the platform will be publicly available to eligible investors before the end of 2023. With a combination of Adada’s experience and digital innovation, Mnaara will help shariah-compliant investors find the best global investment opportunities available