Startup IMAN attracted investment from the 500 Global Accelerator Fund

Fintech investment company IMAN Invest, operating on the principles of Islamic finance, has attracted investment from the international fund and 500 Global Accelerator. The deal took place in the United States, in San Francisco.

IMAN is the world's first global investment fund based on the principles of Islamic finance. The project includes 2 main components: IMAN Invest and IMAN Pay.

The IMAN project aims to ensure that everyone has access to fair and transparent investment products, as well as Sharia-compliant services. The founders believe that this is possible due to the development of technology. Also, the IMAN team wants to help people make the right financial decisions so that they are not left behind from the developed and advanced world.

Today, the startup has attracted investments from the international fund and accelerator 500 Global. Recall that the 500 Global fund invests at an early stage with an average check up to $500,000

“I'm glad that Tier-1 accelerator funds like 500 Global are finally investing in companies from the CIS. An investment fund like 500 Global is a quality benchmark in the world of high technology and venture investment, and this 500 investment demonstrates the attractiveness of not only our project, but also our region and the Islamic finance industry for the global investor community as a whole. This is a huge step in the development of the investment attractiveness of both our country and companies operating according to Halal standards all over the world”, – says Rustam Rahmatov, director and co-founder of IMAN.

The startup now plans to expand into other emerging markets with a young and tech-savvy Muslim population, rising disposable incomes, and growing penetration of digital e-commerce payment systems. Following Uzbekistan and Kazakhstan, the project team plans to enter the USA, Great Britain, Pakistan, as well as cover South Asia and the countries of the Middle East and North Africa.

Recall the early achievements of the IMAN project:

• the startup entered the TOP-100 best startups according to the Entrepreneurship World Cup (EWC);
• reached the final of the largest international technology competition “Seedstars World Competition 2021”;
• successfully completed the acceleration program at IT Park.

500 Global is a venture fund and accelerator company founded in 2010. The company, with more than $2.7 billion in assets, is investing in markets where technology, innovation and capital can create long-term value and drive economic growth. In total, 500 Global has invested in more than 50 companies worth more than $1 billion and more than 150 companies worth more than $100 million. Among them are companies such as Canva, Goldbelly, Grab, and now IMAN.