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Mal raises $230M seed round, largest fintech seed in Middle East and Africa. The Abu Dhabi Islamic finance platform opened global waitlist after UAE central bank approval.

PRIVATESep 07, 2026•about 13 hours ago

Amount Raised

$230 Million

Round Type

Seed

Abu DhabiFinancial ServicesArtificial IntelligenceFinanceFintechLendingBanking

Investors

Blue Five Capital

Description

Mal, an Abu Dhabi-based fintech platform, has raised $230 million in seed funding, the largest publicly announced fintech seed investment in the Middle East and Africa. BlueFive Capital led the round, which will support product development, licensing, and expansion. The platform combines payments, transfers, financing, and investing in one service, built around Islamic financial principles. Mal has opened a global waitlist following in-principle approval from the UAE Central Bank.

Company Information

Company

Mal

Location

Abu Dhabi, Abu Dhabi Emirate, United Arab Emirates

About

Mal is the first AI-native Islamic digital bank founded by serial fintech entrepreneur Abdallah Abu-Sheikh. It aims to deliver cutting-edge financial solutions that empower individuals and businesses while offering a seamless and inclusive experience. Built with a global vision, Mal seeks to serve the financial needs of the world’s 2 billion Muslims and underbanked communities. The digital platform is designed for scale, providing mobile-first tools powered by AI for everyday financial needs.

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