How many total Islamic FinTech companies are there?

As of Apr 2026, there are 140 active companies in Islamic FinTech sector.

Which countries have the most Islamic FinTech companies?

Indonesia (27) has the highest number of Islamic FinTech companies, followed by United Kingdom (21) and Malaysia (20).

How many Islamic FinTech companies are funded?

As of Apr 2026, 75 companies in this sector have received funding.

Which company has raised the most funding in Islamic FinTech sector?

As of Apr 2026, Tabby has secured $604M in funding, making it the highest-funded company in the Islamic FinTech sector.

Which country has attracted the most investment in Islamic FinTech companies?

With $2.66B in total funding, Saudi Arabia has attracted the most investment among Islamic FinTech companies.

Who are the top investors in Islamic FinTech companies?

The top investors in Islamic FinTech companies by number of investments are Arbor Ventures, STV and Mandiri Capital Indonesia

How much venture capital has Islamic FinTech sector attracted?

In the last 10 years, venture capital firms have invested $1.59B in this sector.

How many unicorns has Islamic FinTech sector produced?

Globally, there are 2 unicorns in Islamic FinTech sector, to date.

Islamic FinTech - 2026 Market & Investments Trends

There are 177 companies in the Islamic FinTech sector across the world, with 75 funded companies having collectively raised $6.03B in venture capital money and private equity. Overall 34 of these are Series A+ funded and the sector has seen the creation of 2 Unicorns.

Islamic FinTech sector has seen 11 acquisitions and 4 IPOs. This represents almost 8.5% of all such companies - which is higher than the 4.9% exit rate of tech companies in general.

This sector includes companies which provide FinTech solutions including internet-first platforms and software for sharia-compliant finance across Banking, Lending, Investments, Insurance, and Payments.

Companies included in Islamic FinTech sector

Islamic FinTech solutions across Banking, Alternative Lending, Insurance, Investment Industry, Payments, and Cryptocurrency

Companies excluded in Islamic FinTech sector

Offline Islamic Financial Services companies

Key Metrics

Total Companies

177

Top Companies

Tabby, Amartha & more

Total Funding

$6.03B

Funded Companies

Series A+ Companies

Series C+ Companies

Unicorns Created

IPOs

Acquisitions

View complete details of this sector

The market map of Islamic FinTech gives a visual overview of the sector, showing key business models, their interactions in the value chain, and industry evolution. Trending business models in Islamic FinTech sector are Internet First Halal Investment Platforms and Internet First Takaful Providers.

Recent BlueBox/Industry Definition image of Islamic FinTech

Here is a report related to Islamic FinTech sector:

Free

Islamic FinTech - Sector Report

Edition: February, 2023 (54 Pages)

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There are more than 177 companies in Islamic FinTech. Tabby is the top Islamic FinTech company globally, ranked using Tracxn Score (what's this?).

Here are 5 of the top Islamic FinTech companies globally:

Company	Description	Location	Founded	Current Stage	Private Funding Raised
Tabby	Provider of purchase financing solutions for businesses	Dubai (United Arab Emirates)	2019	Series E	$604M
Amartha	Microfinance P2P lending platform	Jakarta (Indonesia)	2010	Series C	$53M
FWD	Online life and health insurance platform for individuals	Hong Kong (China)	2013	Public	$1.82B
Wahed	Shariah-based investment and savings platform for individuals	New York (United States)	2017	Series B	$95M
Liberis	Provider of embedded finance solutions for small businesses	London (United Kingdom)	2007	Late Stage	$135M

Get a longer list of companies

Companies founded year-on-year in the Islamic FinTech sector

21 Islamic FinTech startups were founded in 2017 - this is the most number of startups founded in any year in the last 10 years.

Total Number of Companies

Year	No. of companies
2026	-
2025	1
2024	1
2023	1
2022	3
2021	12
2020	14
2019	19
2018	17
2017	21

Companies founded across countries in the Islamic FinTech sector

Indonesia has 27 Islamic FinTech startups, the most by any country, followed by United Kingdom which has 21 startups and Malaysia which has 20.

Total Number of Companies

Country	No. of companies
Indonesia	27
United Kingdom	21
Malaysia	20
United Arab Emirates	18
United States	15
Pakistan	12
Saudi Arabia	11
India	6
Canada	5
Bahrain	4

Stage-wise distribution of the Islamic FinTech sector

Out of the total 177 Islamic FinTech companies, 75 have secured funding. Among them, 34 have reached Series A or higher, and 22 to Series B or beyond.

Founded - 177

Funded - 75

Series A+ - 34

Series B+ - 22

Series C+ - 20

Company Stage	No. of companies
Founded	177
Funded	75
Series A+	34
Series B+	22
Series C+	20

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175+ Total Companies
$6.03B+ Total Funding
70+ Funded Companies
4 IPOs
10+ Acquisitions
5 Reports

Total funding year-on-year in the Islamic FinTech sector

The Islamic FinTech sector saw a total funding of more than $6.02B in the last 10 years. The most amount of funding was in 2023 at more than $1.88B.

Total Funding

Year	Total Funding
2025	$999M
2024	$95.2M
2023	$1.88B
2022	$886M
2021	$1.76B
2020	$342M
2019	$25.3M
2018	$15.1M
2017	$20.6M

Total funding across countries in the Islamic FinTech sector

In the last 10 years, Islamic FinTech startups in Saudi Arabia have recieved the highest funding among all countries - $2.66B. United Arab Emirates follows with $1.93B and China with $1.82B.

Total Funding

Country	Total Funding
Saudi Arabia	$2.66B
United Arab Emirates	$1.93B
China	$1.82B
Indonesia	$721M
United Kingdom	$479M
United States	$99.5M
Pakistan	$60.1M
Egypt	$38.8M
Malaysia	$4.37M
Canada	$2.02M

Total funding amount raised by stage in the Islamic FinTech sector

Over the last 10 years, the Islamic FinTech sector have seen $293M into Seed Stage funding rounds, $473M into Early Stage funding rounds and $778M go into Late Stage funding rounds.

Funding Stage	Total Funding
Debt	$2.71B
PE	$1.67B
Late Stage	$778M
Early Stage	$473M
Seed Stage	$293M
Other-Equity	$93.4M
Grant	$8.17M

Recent Funding Rounds in Islamic FinTech

In the year 2025, till September 2025, Islamic FinTech companies have raised $162M in equity funding across 4 rounds. In the same period last year (i.e. till September 2024), Islamic FinTech companies had raised $51.8M across 5 rounds. So, 2025 has seen a 211.83% rise in funding in Islamic FinTech companies as compared to 2024.

Here are some recent, important funding rounds in Islamic FinTech:

Company	Round Raised	Amount Raised	Funding Date	Investors
Musaffa	Seed	7247	Sep 08, 2025	-
Musaffa	Seed	8046	Mar 22, 2025	-
Tabby	Series E	9508	Feb 12, 2025	Blue Pool Capital and 3 more
Musaffa	Seed	8537	Jan 22, 2025	-
Ayan Capital	Seed	1069	Dec 11, 2024	Cur8 Capital

See a more detailed list of funding rounds

Arbor Ventures is the top investor in Islamic FinTech companies based on number of companies invested.

Here are some top investors in Islamic FinTech:

Investor	Location	Top Portfolio Companies
Arbor Ventures	Hong Kong (China)	Tabby
STV	Riyadh (Saudi Arabia)	Tabby
Mandiri Capital Indonesia	Jakarta (Indonesia)	Amartha, Investree, LinkAja and Tamasia
Quona	Washington, DC (United States)	Finja and Alami Sharia
Innate Capital Partners	New York City (United States)	Wahed, Manzil, Zoya and Mnaara

See a more detailed list of investors

In the year 2024, till January 2024, 1 acquisition happened in Islamic FinTech sector. Last year, in 2023, a total of 2 acquisitions happened in Islamic FinTech sector.

Here are some recent, important acquisitions in Islamic FinTech:

Company	Acquisition Type	Acquisition Date	Acquirers
Capital Banking	Business Acquisition	Jan 08, 2024	Amethis
Finja	Business Acquisition	Sep 12, 2023	OPay
Beehive	Business Acquisition	May 04, 2023	e& enterprise
BuyAnyInsurance.com	Business Acquisition	Sep 23, 2022	Chedid Capital-Holding
Offa	Business Acquisition	Jun 30, 2022	GII

See a more detailed list of acquisitions

Acquisition trends in Islamic FinTech

Here are the acquisition trends in Islamic FinTech:

Total Number of Acquisitions

Year	No. of companies
2026	-
2025	-
2024	1
2023	2
2022	2
2021	2
2020	1
2019	-
2018	1
2017	1

In the year 2025, till July 2025, 1 IPO happened in Islamic FinTech sector.

Here are some recent, important IPOs in Islamic FinTech:

Company	IPO Date	Exchange Symbol
FWD	Jul 07, 2025	Hong Kong Exchanges (HKG)
Al Rajhi Takaful	Jul 13, 2009	Saudi Stock Exchange (TADAWUL)
Temenos	Jun 26, 2001	SIX Swiss Exchange (SWX)

See a more detailed list of IPOs

Companies founded by alumni from top colleges in the Islamic FinTech sector

Most number of Islamic FinTech startups have been founded by alumni from University of Cambridge, University of Oxford and University of Warwick.

College	No. of companies
University of Cambridge	3
University of Oxford	3
University of Warwick	3
INSEAD	2
Imperial College London	2
Massachusetts Institute of Technology	2
McGill University	2
National University of Singapore (NUS)	2
Alliance Manchester Business School	1
Duke University	1

Total funding in companies founded by alumni from top colleges in the the Islamic FinTech sector

In the last 10 years, Harvard Business School and Harvard University graduates' Islamic FinTech companies have raised the most funding among top colleges, and Duke University alumni are third.

College	Total Funding
Harvard Business School	$1.85B
Harvard University	$1.85B
Duke University	$725M
University of Oxford	$437M
University of Cambridge	$431M
University of Warwick	$86.6M
INSEAD	$69.5M
McGill University	$15M
London School of Economics and Political Science	$10M
Massachusetts Institute of Technology	$5.69M