Egypt’s Sabika Gets Funding for Sharia-Compliant Investment Platform
TLDR
- Sabika has raised a six-figure USD investment to grow its Sharia-compliant gold and silver offering across Egypt and the Gulf
- The round was led by M-Empire Angels, an investment network founded by Dr. Maged Ghoneima
- The platform enables users to buy, sell, and store gold and silver securely while complying with the AAOIFI Shari’ah Standard on Gold
Egypt-based digital investment platform Sabika has raised a six-figure USD investment to grow its Sharia-compliant gold and silver offering across Egypt and the Gulf. The round was led by M-Empire Angels, an investment network founded by Dr. Maged Ghoneima.
Founded in 2022 by Ibrahim Anwar and Mohammed Darwish, Sabika allows individuals and businesses to invest in asset-backed precious metals digitally, in line with Islamic finance principles. The platform enables users to buy, sell, and store gold and silver securely while complying with the AAOIFI Shari’ah Standard on Gold.
Sabika has reached over 20,000 users in 27 Egyptian cities, recording EGP 120 million ($2.4 million) in transaction volume since launch—achieved organically without paid marketing.
The new capital will fund AI-driven platform enhancements and support expansion into Saudi Arabia in 2025, as Sabika aims to become a regional leader in ethical, asset-backed digital wealth solutions.
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Key Takeaways
Sabika’s raise highlights the growing intersection of Islamic finance and digital wealth technology in MENA. As investors seek ethical and inflation-hedging assets, gold-backed investment platforms are gaining traction among middle-class savers and SMEs. By combining physical asset security with digital convenience, Sabika is positioning itself as a Sharia-compliant alternative to speculative crypto and high-risk digital trading platforms. The investment by M-Empire Angels underscores rising investor appetite for fintechs aligned with regional cultural and religious values. With expansion plans into Saudi Arabia—one of the world’s largest Islamic finance markets—Sabika could tap into a vast customer base seeking compliant, tech-enabled financial products. Its focus on transparency, AI-driven pricing, and digital access may redefine how gold investing is done in the region, bridging tradition with technology in a fast-evolving fintech landscape.
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