Mubasher: Abu Dhabi-based fintech Mal has raised $230 million in a strategic investment round led by BlueFive Capital, with participation from other investors and family offices.
The largest seed round in MEA history aligns with Mal’s mission to build a smart, ethical, and inclusive financial service at a global scale, according to a press release.
The fundraising transaction will support product development, licensing efforts, and market entry ahead of the platform’s planned 2026 launch.
Mal is a mobile-first digital bank developed to serve the needs of the world's communities. The funding will accelerate product development, licensing efforts in multiple markets, and the go-to-market strategy.
It will launch in phases, expanding into key global markets in the Middle East and Asia. where there is strong demand for accessible, value-driven financial solutions.
Abdallah Abu-Sheikh, Founder of Mal, commented: “Islamic finance is a $7T space with no single global banking leader. With Mal, we aim to bridge that gap and bring cutting-edge fintech solutions to every underserved community globally.”
He added: “This raise is a vote of confidence in our mission to deliver a next-generation digital experience that puts intelligence, values, and accessibility at its core.”
