New York-based Wahed Invest has secured financing from oil giant Saudi Aramco to expand into the Middle East and make Riyadh its regional hub.
The Saudi Aramco Entrepreneurship Ventures extended the funding to the online Islamic investment platform as part of a $25 million funding round.
Wahed Invest founder Junaid Wahedna emphasized the importance of getting Aramco as an investor as it reassures clients that they are investing in a company backed by a reliable and familiar name.
Also investing in Wahed Invest were Dubai-based BECO Capital and the Cue Ball Group from Boston.
The three-year-old Wahed Invest, which has secured a license to operate in Saudi Arabia, aims to get regulatory approval in 20 more countries.
It currently has licenses to operate in nine countries.
Seeking to tap into the rising Islamic finance market, Wahed Invest started Malaysia's first Shariah-compliant digital investment platform in October.
The company's Islamic Exchange Traded Fund (ETF) holds investments in Apple, Johnson & Johnson, and Intel Corp.
Wahed Invest is also contemplating listing its Islamic ETF on the Saudi stock exchange. Its ETF was listed on the Nasdaq last year.


Amazon Reviews Supplier Costs as U.S.–China Tariffs Ease
AFT Leaves X Over AI-Generated Images of Minors
Anthropic Launches HIPAA-Compliant Healthcare Tools for Claude AI Amid Growing Competition
Merck Raises Growth Outlook, Targets $70 Billion Revenue From New Drugs by Mid-2030s
HSBC Expands UAE Presence With New Asset Management Business and Onshore Funds
NYC Nurses Strike Shuts Down 10 Private Hospitals as 15,000 Demand Safer Staffing and Benefits
Trump Administration Approves Nvidia H200 AI Chip Sales to China Under New Export Rules
BESI Reports Strong Q4-25 Orders Surge Driven by Data Center and Hybrid Bonding Demand
Trump Weighs Blocking Exxon Investment as Venezuela Deemed “Uninvestable”
Zhipu AI Launches GLM-Image Model Trained on Huawei Chips, Boosting China’s AI Self-Reliance Drive
BlueScope Steel Announces A$1 Special Dividend After Asset Sales
Nvidia Denies Upfront Payment Requirement for H200 AI Chips Amid China Export Scrutiny
Trump Considers Starlink to Restore Internet Access in Iran Amid Protests
Viking Therapeutics Sees Growing Strategic Interest in $150 Billion Weight-Loss Drug Market
Saks Global Files for Bankruptcy Protection Amid Mounting Luxury Retail Pressures
Rio Tinto–Glencore Talks Spark Pressure on BHP as Copper Fuels Mining Mega Deals
Vitol to Ship First U.S. Naphtha Cargo to Venezuela Under New Oil Supply Deal 



