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Aajil

5 known investors

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Aajil purchases the materials a business needs and pays the supplier directly, then lets the business repay over a flexible term of two to twelve months. It offers Sharia-compliant purchase financing for companies in Saudi Arabia.

B2B MarketplacesFintech

Founders & leadership

ASAbdulla Sheikh
Abdulla SheikhCo-Founder & CEOAbdulla Sheikh studied civil and environmental engineering at Cardiff University and completed a master's degree in environmental engineering from Imperial College London, followed by research at MIT in waste management. He previously led the water and infrastructure division of his family's construction and manufacturing business in Saudi Arabia for seven years, managing large project portfolios, and later was involved in establishing steel facilities. He is now CEO and co-founder of Aajil, which provides Sharia-compliant purchase financing for businesses in Saudi Arabia.
RDRahat Dewan
Rahat DewanCo-Founder, COO & CTOFounder at bulidlogo post_edited_edited_edited_edit

Investors · 5

Khwarizmi Ventureslisted by Khwarizmi VenturesRiyadh

How we know: Khwarizmi Ventures's portfolio page · funding news · incubees.com · the VCSheet dataset · Not right? Tell us

RAED Ventureslisted by RAED VenturesRiyadh

How we know: RAED Ventures's portfolio page · funding news · incubees.com · Not right? Tell us

STVreportedDubai

How we know: funding news · entarabi.com · Not right? Tell us

Also in the syndicate · 1

Arbah Capitallead

Funding

SEC filings, press & company announcements

$19.1M disclosed across 2 rounds · 2024–2025

Source: company announcements and press reports — follow each round's link for the claim.

Frequently asked questions

What does Aajil do?
Aajil purchases the materials a business needs and pays the supplier directly, then lets the business repay over a flexible term of two to twelve months. It offers Sharia-compliant purchase financing for companies in Saudi Arabia.
Who founded Aajil?
Aajil was founded by Abdulla Sheikh, Rahat Dewan.
Who are Aajil's investors?
Aajil's investors include Joa Capital, Khwarizmi Ventures, RAED Ventures, STV.
How much funding has Aajil raised?
Aajil has disclosed $19.1M raised across 2 rounds.