What is Manzil?
Manzil operates as a unique entity in the Canadian financial landscape, serving as the only domestic provider of Halal financial solutions. The company addresses a critical market void by manufacturing and distributing products that adhere to Islamic financial principles, ensuring that consumers do not have to compromise their values for financial utility. Their core offerings, ranging from home financing to diversified investment vehicles, are designed to provide equitable access to capital while maintaining strict compliance with ethical standards. By leveraging technology to streamline these complex financial instruments, Manzil has established itself as a key player in the niche but rapidly expanding ethical finance market.
How much funding has Manzil raised?
Manzil has raised a total of $1.9M across 1 funding round:
Angel/Seed
$1.9M
Angel/Seed (2022): $1.9M with participation from Jasaya Investments, Innate Capital Partners, Holt Xchange, and Think Financial
Key Investors in Manzil
Holt Xchange
Holt Xchange is a global fintech fund that focuses on uniting entities to enhance societal services through innovative technology, supporting early-stage startups with a vast network of advisors and corporate partners.
Think Financial
Think Financial specializes in education finance and student loan products, focusing on custom-tailored solutions to make higher education more affordable for families.
Jasaya Investments
Jasaya Investments is a private investment firm that provides strategic capital to high-potential ventures, focusing on long-term growth and market development.
What's next for Manzil?
Following this major enterprise-level funding, Manzil is expected to prioritize the expansion of its digital infrastructure and the diversification of its product portfolio. The strategic allocation of these funds will likely focus on enhancing the user experience for its home financing platform and increasing the accessibility of its investment funds to a broader demographic. As the company moves beyond its initial growth phase, the focus will shift toward scaling its operational capacity to meet the rising demand for ethical financial services. By strengthening its technological backbone and deepening its market penetration, Manzil is poised to solidify its leadership in the Canadian Islamic FinTech space, potentially setting the stage for future regional expansion and the introduction of new, innovative financial products.
See full Manzil company page
