Companies in Islamic FinTech
There are 148 companies in Islamic FinTech which include Tabby, Amartha, Wahed, Beehive, Lendo. 61 companies in Islamic FinTech are funded, with 25 having secured Series A funding. Till date, the sector has seen the creation of 1 Unicorn. Indonesia has the most number of companies in Islamic FinTech (23), followed by Malaysia
(18), and then United Kingdom (17).
On average, the last 10 years have seen 8 new companies launched every year. Most number of Islamic FinTech startups have been founded by alumni from INSEAD, Massachusetts Institute of Technology and National University of Singapore (NUS).
Here is a List of top companies in Islamic FinTech
1. Tabby
Provider of purchase financing solutions for businesses. The platform enables users to purchase from multiple online stores and allows to repay the amount in equal installments. It offers a credit card offering buy now pay later loans with installment-based repayment options. It allows users to split purchases into four interest-free payments, both online and in-store. The platform also offers shopping assistant that lets users discover and track products, brands and deals in the application.
Key facts about Tabby
- Founded Year: 2019
- Location: Riyadh (Saudi Arabia)
- Stage: Series E
- Total Funding till date: $604M
- Investors: STV, Global Founders Capital and 28 Others
- Latest Funding Round: Series E, Feb 12, 2025, $*****
- Tracxn Score: 83/100 What is this?
- Competitors Rank: 3 of 16 Competitors
2. Amartha
Microfinance P2P lending platform. It is an Indonesia-based P2P lending platform that connects micro-entrepreneurs and SMEs with investors. It allows individual as well as institutional investors to invest on their platform. The borrowers post the listing on the platform specifying the amount and the tenure for the loan. The lenders can browse and choose the desired listings.
Key facts about Amartha
- Founded Year: 2010
- Location: Jakarta (Indonesia)
- Stage: Series C
- Total Funding till date: $53M
- Investors: UOB, Bamboo Capital Partners and 18 Others
- Latest Funding Round: Conventional Debt, Jun 17, 2025, $*****
- Tracxn Score: 71/100 What is this?
- Competitors Rank: 1 of 4 Competitors
3. Wahed
Shariah-based investment and savings platform for individuals. It enables users to invest in multiple portfolios, save for home, pilgrimage, and wedding, achieve wealth goals, and more. Also offers an app-based platform that is available on iOS and Android devices.
Key facts about Wahed
- Founded Year: 2017
- Location: New York (United States)
- Stage: Series B
- Total Funding till date: $95M
- Investors: Wa'ed Ventures, Qatar Development Bank and 13 Others
- Latest Funding Round: Series B, Nov 24, 2024, $*****
- Tracxn Score: 70/100 What is this?
- Competitors Rank: 22 of 2,489 Competitors
4. Beehive
Beehive offers a sharia-compliant online marketplace for business loans. Investors can invest in loans starting from AED 100. Businesses can borrow up to AED 500,000. The loan term is up to 36 months. Investors receive monthly repayments and profits.
Key facts about Beehive
- Founded Year: 2014
- Location: Dubai (United Arab Emirates)
- Stage: Acquired
- Total Funding till date: $15.5M
- Investors: Riyad TAQNIA Fund, VentureSouq and 4 Others
- Latest Funding Round: Grant (prize money), Jun 20, 2021, $*****
- Tracxn Score: 58/100 What is this?
- Competitors Rank: 1 of 5 Competitors
5. Lendo
Online platform for invoice financing. It offers a P2P marketplace that connects businesses and investors for financing unpaid invoices. Businesses can register and upload the invoices, the request is sent to multiple investors. Once approved, the funds are transferred to the registered bank account. It features real-time alerts on bankable investments to investors.
Key facts about Lendo
- Founded Year: 2019
- Location: Riyadh (Saudi Arabia)
- Stage: Series B
- Total Funding till date: $35.2M
- Investors: Sanabil, Impact46 and 7 Others
- Latest Funding Round: Conventional Debt, Jan 30, 2025, $*****
- Tracxn Score: 58/100 What is this?
- Competitors Rank: 1 of 8 Competitors
