Aramco Backs New York Fintech Firm Offering Islamic Investments
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A New York-based online Islamic investment platform has secured backing from Saudi Aramco, the world’s biggest company, to expand into the Middle East and make Riyadh its hub for the region.
Wahed Invest LLC got the financing from the oil giant’s Saudi Aramco Entrepreneurship Ventures unit as part of a $25 million funding round, founder Junaid Wahedna said in an interview. Dubai-based BECO Capital and Boston-based Cue Ball Group LLC also invested in the firm, he said.