Loading organizations...

§ Private Profile · New York City, NY, USA
Wahed is a technology company.
Wahed operates as an automated, Shariah-compliant investment platform. It delivers halal savings and diversified investment portfolios, meticulously ensuring capital is deployed in ethical, interest-free assets. The platform functions as a digital wealth manager, making values-based financial products accessible through technology that adheres to Islamic principles.
Junaid Wahedna founded Wahed in 2017. His experience in traditional finance, including Wall Street, highlighted a substantial unmet need for transparent and accessible Shariah-compliant investment solutions. He initiated Wahed with the vision of democratizing halal investing, directly addressing the difficulty individuals faced in finding ethical financial products that avoided riba.
The company primarily serves individuals globally who aim to align their financial growth with their faith and personal values. Wahed’s overarching vision is to advance financial inclusion by making ethical investing both accessible and affordable. It endeavors to provide a values-based investment alternative for a broad and diverse customer base.
Wahed has raised $102.8M across 6 funding rounds.
Key people at Wahed.
Wahed has raised $102.8M in total across 6 funding rounds.
Wahed has raised $102.8M in total across 6 funding rounds.
Wahed's investors include Cue Ball Capital, Dubai Cultiv8, Rasameel, BECO Capital, Amir Farha, John Elkhair, Khalid Aljassim, Laurent Nordin, Nasr-eddine Benaissa.
Wahed has raised $102.8M across 6 funding rounds. Most recently, it raised $50.0M Series B in June 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 20, 2022 | $50M Series B | — | CUE Ball Capital, Dubai Cultiv8, Rasameel | Announced |
| Jun 1, 2020 | $25M Series A | — | BECO Capital, CUE Ball Capital, Dubai Cultiv8, Rasameel | Announced |
| Oct 24, 2018 | $7.8M Venture Round | Amir Farha, CUE Ball Capital | — | Announced |
| Oct 1, 2018 | $8M Seed | — | — | Announced |
| Oct 1, 2017 | $7M Seed | — | BECO Capital, CUE Ball Capital | Announced |
| Jun 6, 2017 | $5M Seed | — | John Elkhair, Khalid Aljassim, Laurent Nordin, Nasr Eddine Benaissa | Announced |
Wahed is a financial technology company specializing in Shariah-compliant digital investment platforms, offering robo-advisory services, halal ETFs, private real estate, and savings accounts to over 400,000 clients across 130+ countries.[2][3][5] It serves Muslim and values-based investors seeking riba-free (interest-free) alternatives, solving barriers to ethical investing by providing automated, accessible portfolios in equities, Sukuks, real estate, gold, and more, with features like Zakat calculators and wealth purification tools.[2][3][5][6] Managing over $1 billion in assets, Wahed has shown strong growth, expanding from its 2017 robo-advisor launch to new products like fractional real estate investments starting at $100, backed by investors including Saudi Aramco's Wa'ed Ventures.[2][3]
Wahed was founded in 2015 in New York City as the world's first automated halal robo-advisor, launching publicly in 2017 with seed funding from investors like former JPMorgan's John Elkhair and McKinsey's Laurent Nordin.[1][2][4] Key early milestones include UK expansion in 2018, a $7 million raise from Cue Ball Capital and BECO Capital, and the launch of a Halal Stock Screener app.[2] In 2019, it pioneered the first U.S. Sharia-compliant ETF (HLAL), followed by a $25 million Series A in 2020 led by Saudi Aramco Entrepreneurship Ventures, and the acquisition of UK-based Niyah Ltd for Muslim-focused digital banking.[2] Leadership evolved with Mohsin Siddiqui as CEO since 2023 (previously at ComplyAdvantage and OANDA) and Arif Shanji as CTO with fintech experience at Yahoo and CMC Markets, driving tech upgrades like migrating to WealthKernel's API for better UX.[1][2][4]
Wahed rides the wave of fintech democratization and rising demand for values-based investing, particularly Shariah-compliant products amid growing Muslim populations (1.8+ billion globally) and ethical finance trends post-2020.[2][3][5] Timing aligns with inflation pressures and crypto volatility, positioning halal real estate and Sukuks as stable alternatives; market forces like regulatory support for Islamic finance in the UK/U.S. and tech APIs enable low-cost scaling.[1][3] It influences the ecosystem by pioneering products like HLAL ETF and fractional halal real estate, inspiring competitors and expanding access for underserved groups, while acquisitions like Niyah bridge investing with banking.[2][3]
Wahed is poised to exceed $1 billion AUM through expansions like U.S. real estate and potential APAC growth, leveraging AI-driven personalization and partnerships for seamless onboarding.[1][3][4] Trends like tokenized assets, ESG convergence with Shariah, and riba-free DeFi will shape its path, potentially elevating its $300 million valuation via IPO or further funding.[2] As ethical fintech matures, Wahed's mission to build a riba-free society could redefine inclusive wealth-building, turning niche compliance into mainstream appeal.[5][6]