Shariah-compliant crowdfunding platform Ethis Global has raised RM 6.8m ($1.6m) in its pre-Series A round.
The round was supported by several strategic and selected angel investors. Among these are Tan Sri Wan Zulkiflee, Daud Vicary Abdullah and Khurram Hilal.
With this capital injection, the company is looking to acquire licences and launch in new jurisdictions. Furthermore, the company is looking to build new technology solutions.
Next year, the company is hoping to expand its product offerings to include agriculture and Waqf issuers and projects.
Ethis is looking to raise $10m in its Series A round, with it hoping to secure funds from institutional and strategic corporate investors.
Founded in 2014, the Malaysia-headquartered company provides Shariah-compliant, ethical and impact focused investment crowdfunding opportunities. The platform is live in Malaysia and Indonesia and has also received regulatory approval in Dubai and Qatar.
Its platform supports peer-to-peer financing, equity crowdfunding and charity crowdfunding.
Ethis Group chairman of advisors Datuk Mohd Radzif Mohd Yunus said, “Our global ambition and focus on impact has attracted new shareholders who bring tremendous experience and relationships to our group. This we believe will propel growth for years to come.”
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