# Murabaha

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

- Industry: Financial Services
- Headquarters: Toronto, Canada
- Website: www.manzil.ca
- Total disclosed funding: $2.8M
- Latest round: Seed (May 31, 2022)
- Investors on record: 7

## About

Based in Toronto, Canada, and founded in 2017 by CEO Mohamad Sawwaf, COO Mohamad Vedut, and CFO Mustafa Elkalza, Murabaha Inc., doing business as Manzil, operates as an Islamic digital bank that provides halal financing and investment solutions for Islamic people. In May 2022, Murabaha Inc. raised CAD 2.44 million in seed funding led by THINK Financial, with participation from The Holt Exchange, Innate Capital Partners, and Jasaya Investments.

Manzil provides investment solutions such as Registered Retirement Savings Plans (RRSP), RESPs for education, Tax-Free Savings Accounts (TFSA), Personal savings, and investing accounts. The company offers investing solutions related to homes, wills, and cards. In addition, the firm offers a wide range of services, including Zakat, real estate, and purification, for the Muslim community based on Islamic principles. Manzil also deals in funds such as mortgage funds and equity funds.

## Funding rounds

- Seed, May 31, 2022, $1.9M — THINK Financial, The Holt XChange, Innate Capital Partners, Jasaya Investments
- Seed, Jul 14, 2019, $0.9M — FCT Insurance Company, ShariaPortfolio, Henon Capital

## Investors

- FCT Insurance Company — Seed
- ShariaPortfolio (https://capitalatlas.ai/funds/shariaportfolio) — Seed
- Henon Capital — Seed
- THINK Financial — Seed
- The Holt XChange (https://capitalatlas.ai/funds/the-holt-xchange) — Seed
- Innate Capital Partners (https://capitalatlas.ai/funds/innate-capital-partners) — Seed
- Jasaya Investments — Seed