Global Islamic fintech leader Wahed has landed a strategic investment from Abu Dhabi-based Phoenix Venture Partners (PVP), a move that formalizes a long-term partnership to fuel the company’s next phase of growth, including a near-term Series C funding round. PVP, a key player in the MENA venture capital landscape, had quietly participated in Wahed’s Series B round and is now publicly confirming its commitment.
By The Numbers: Wahed’s Global Reach
- Clients: 300,000+
- Jurisdictions Licensed: 9
- Global Offices: 11
- Upcoming Round: Series C
Wahed’s Mission for Financial Inclusion
Wahed is an ethical investment platform that aims to reduce financial exclusion by making Sharia-compliant investing simple, accessible, and affordable. Since its inception, the company has achieved significant global traction, serving a diverse clientele of over 300,000 customers who are looking to grow their wealth in an ethically-focused manner.
A Partnership Beyond Capital
The collaboration goes beyond capital, with PVP committing to strategically support Wahed in key areas such as new product launches, global expansion initiatives, and preparing the company for a future IPO. This hands-on approach provides Wahed with a strong institutional ally in one of the world’s most important markets for Islamic finance.
“PVP is thrilled to support Wahed’s mission of democratizing investing for everyone, regardless of their financial background,” said Steve Khayat, Founder & CEO of Phoenix Venture Partners. “We believe that by making investment options more accessible, we can help create a more inclusive financial system for all.”
About the Partners
- Wahed Inc.: A global Islamic fintech company dedicated to providing accessible and ethical investment opportunities. It currently operates in nine jurisdictions with a client base of over 300,000.
- Phoenix Venture Partners (PVP): An ADGM-regulated venture capital fund manager based in Abu Dhabi. PVP invests in early-stage technology companies across the MENA region with a global outlook.
Looking Ahead
With its proven global traction and a strong new partner in a key Islamic finance region, Wahed is well-positioned for a successful Series C round. The strategic support from Phoenix Venture Partners will be instrumental in deepening its presence in the MENA market and solidifying its status as the leading global platform for ethical and Islamic investing.
Source: Phoenix Venture Partners
