# Mal

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mal

- Industry: Financial Services
- Headquarters: Abu Dhabi, United Arab Emirates
- Total disclosed funding: $230M
- Latest round: Seed (Jan 13, 2026)
- Investors on record: 1

## About

Established in 2025, Mal was founded by fintech entrepreneur Abdallah Abu-Sheikh. The company emerged with the goal of addressing service gaps in global financial inclusion and Islamic digital banking. In January 2026, Mal raised USD 230 million in seed funding led by new investor BlueFive Asset Management, with participation from other investors.

Mal is developing a mobile-first digital banking platform intended to provide core financial tools such as onboarding, account access, payments, and budgeting. Its design emphasizes usability for underserved users and aims to incorporate AI-enabled functionality to enhance operational efficiency and reduce friction in everyday financial tasks. The platform also aligns with Islamic banking principles, positioning it within a sector that requires adherence to specific financial frameworks.

## Funding rounds

- Seed, Jan 13, 2026, $230M — BlueFive Asset Management

## Investors

- BlueFive Asset Management (https://capitalatlas.ai/funds/bluefive-asset-management) — Seed