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Amwal

Founded 2022 · 25 employees on LinkedIn · 6 known investors

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Amwal is a financial technology company offering payment and installment tools, including credit-card bank installments compliant with Sharia (via Twarruq or Murabaha), for consumers and merchant partners. It is licensed by the Saudi Central Bank (SAMA) and operates in Saudi Arabia.

ConsumerFintech

Founders & leadership

Amwal was founded in 2022 by Mohamed Zaghoo.

MZMohamed Zaghoo
Mohamed ZaghooCEO & Co-FounderMohamed Zaghoo previously worked as an astrophysicist and professor, with experience at NASA and Goldman Sachs. He is the founder of Amwal, a fintech company providing Sharia-compliant payment and installment solutions in Saudi Arabia.

Investors · 6

Salica Investmentslisted by Salica InvestmentsLondon

How we know: the VCSheet dataset · Not right? Tell us

Shorooq Partnerslisted by Shorooq PartnersAbu Dhabi

How we know: Shorooq Partners's portfolio page · funding news · techinafrica.com · Not right? Tell us

Fasanara CapitalreportedLondon

How we know: indexbox.io · Not right? Tell us

Also in the syndicate · 2

AmwalGemcorp

Funding

SEC filings, press & company announcements

$100M disclosed across 1 of 3 rounds · 2023–2026

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

Frequently asked questions

What does Amwal do?
Amwal is a financial technology company offering payment and installment tools, including credit-card bank installments compliant with Sharia (via Twarruq or Murabaha), for consumers and merchant partners. It is licensed by the Saudi Central Bank (SAMA) and operates in Saudi Arabia.
Who founded Amwal?
Amwal was founded by Mohamed Zaghoo in 2022.
Who are Amwal's investors?
Amwal's investors include Outliers VC, Salica Investments, Shorooq Partners, Fasanara Capital.
How much funding has Amwal raised?
Amwal has disclosed $100M raised across 1 of its 3 known rounds.