Mal raises $230M seed to build AI-native Islamic bank from Abu Dhabi, marking the largest fintech seed in MENA.
PRIVATEOct 04, 2026
Amount Raised
$230 Million
Round Type
Seed
Abu DhabiFinancial ServicesArtificial IntelligenceFintechLendingBankingMachine Learning
Description
Mal, an Abu Dhabi-based fintech founded in 2025, has closed a $230 million seed round, described as the largest publicly announced fintech seed investment in the Middle East and Africa. The company has received in-principle approval from the Central Bank of the UAE to establish a licensed bank, transitioning from a technology proposition to a regulated financial institution. Mal is building an AI-native banking platform with embedded artificial intelligence in core architecture, offering global accounts, personal finance tools, lifestyle financing, and SME solutions. The platform is designed around Islamic financial principles as a core design philosophy rather than product-level compliance.
Company Information
Company
Mal
Location
Abu Dhabi, Abu Dhabi Emirate, United Arab Emirates
About
Mal is an Abu Dhabi-based fintech founded in 2025 that is building an AI-native Islamic bank with a US$230 million seed round. The platform embeds AI into core banking architecture from inception rather than layering it onto existing systems, offering global accounts, AI-driven personal finance tools, lifestyle financing, and SME solutions. Islamic financial principles inform the product design philosophy across risk assessment and customer treatment. The company has received in-principle approval from the Central Bank of the UAE to establish a licensed bank.
Fundz sees it the moment Mal raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
Abu DhabiFinancial ServicesArtificial IntelligenceFintechLendingBankingMachine Learning