Wahed Robo Advisor Sdn. Bhd.

 

Wahed Invest was established in 2015 by Junaid Wahedna. After a year of product development and beta testing, the company had a soft launch in September 2016. Wahedna, an Islamic finance specialist and former financial analyst for M Capital Group, got the idea for the company after meeting a cab driver who had moved to the United States and invested all of his money in Apple stock after a mosque leader told him Apple was Sharia-compliant and invested $50,000 of his savings in the company. Within the first three months, Wahed had 1,000 clients on the platform.

 

Wahed raised $7 million seed capital from investors including Afkar Holdings managing partner Khalid Al Jassim, former JPMorgan Chase managing director John Elkhair, director of McKinsey & Company Laurent Nordin, former McKinsey & Company partner Nasr-Eddine Benaissa, Cue Ball Capital and BECO Capital.