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Kestrl: Muslim Money App
Techstars '22Waltham Abbey, GB · Founded 2020 · 42 employees on LinkedIn · 2 known investors
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Kestrl is an ethical financial service that provides payment accounts and cards designed for users whose values prioritize avoiding unethical corporate practices. The platform flags payments to companies misaligned with user values and offers faith-based features including interest-free rewards and Zakat calculation tools.
Also known as Kestrl
Founders & leadership
Kestrl: Muslim Money App was founded in 2020 by Ayaz Siddiqui and Daeng Termizi.
Investors · 2
How we know: Aweh Ventures's portfolio page · Not right? Tell us
How we know: the Techstars portfolio · open dataset · Top 3000 Accelerator Startups (no YC) 2026-08 · Not right? Tell us
Company profile
researched Sep 2026Kestrl is a UK financial technology company offering a mobile app that helps users, particularly Muslim consumers, spend, store and grow money in line with their religious and ethical values. The app flags payments made to companies a user does not wish to support and suggests alternatives across categories such as entertainment, finance, healthcare, food, cosmetics, manufacturing, drinks, technology, pet care, clothing, retail, automotive, energy, transportation and charity. Users can create goal-based sub-accounts for objectives ranging from holidays to Hajj, and earn interest-free rewards advertised at +2.50% for maintaining a minimum balance of £1,000.
Beyond payments, Kestrl offers a suite of faith-based services including interest purification and Zakat calculation. Security features described by the company include instant in-app card freezing triggered by algorithmic flagging of suspicious transactions, in-app-only card activation with hidden card details, AI-based identity checks on unexpected login locations, and biometric sign-in tied to the user's device. The company references ISO/IEC 27001:2022 certification (ISMS 00624).
In addition to the consumer product, Kestrl provides SaaS personal financial management tools to banks and fintechs.
Business model
Kestrl operates a consumer mobile application offering a payment account and Mastercard-branded card alongside faith-aligned budgeting, saving and investing features, and additionally sells software-as-a-service to banks and fintechs in the form of its personal financial management (PFM) tools.
Revenue sources indicated include SaaS licensing of personal financial management tools to banks and fintechs, alongside the consumer account and card proposition.
Traction
Kestrl is listed at seed stage with a staff size of 11-50 employees, has live iOS and Android apps, and has announced an investment from Madinah Angels and a partnership with Maybank Islamic.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Kestrl positions itself as an alternative to conventional banks for consumers who object to how banks deploy deposits, and operates in the UK Islamic and ethical fintech segment.
Kestrl combines conventional budgeting and spending tools with values-based screening of merchants and faith-specific functions such as interest purification and Zakat calculation, and positions its rewards as interest-free rather than interest-bearing.
Technology
The consumer product is an iOS and Android application. The Kestrl account and card are issued by AF Payments Limited under a Mastercard International licence, with AF Payments authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN: 900440). Kestrl acts as an agent of TrueLayer, which provides the regulated Account Information Service and is authorised and regulated by the FCA under the Payment Services Regulations 2017 and the Electronic Money Regulations 2011 (FRN: 901096). The company cites ISO/IEC 27001:2022 certification and uses algorithmic transaction monitoring, biometric authentication and AI-based identity checks.
Go-to-market
Kestrl distributes its consumer app through the Apple App Store and Google Play, supports it with a newsroom, learning content and a podcast, and pursues institutional distribution through partnerships with banks such as Maybank Islamic and through SaaS sales of its personal financial management tools.
Muslim and values-driven retail consumers in the UK, plus banks and fintechs that license Kestrl's personal financial management software.
Geography
The company is based in the United Kingdom, with listed locations including Mile End and Kingston Vale in London, London generally, Waltham Abbey and England. Its partnership with Maybank Islamic is aimed at the UK market.
History
The company has been listed with locations across London (Mile End, Kingston Vale), Waltham Abbey and elsewhere in the UK, and appears on the Techstars job board at seed stage with a founding year given as 2019. Its consumer app has been released on the Apple App Store and Google Play. More recently the company announced an investment from Madinah Angels and a partnership with Maybank Islamic to launch a 'Values-as-a-Service' fintech proposition in the UK.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 2
launches, deals, and filingsKestrl's newsroom announced that Madinah Angels closed an investment into the company.
Kestrl announced a partnership with Maybank Islamic to launch a 'Values-as-a-Service' fintech offering in the UK.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 8
primary sources listed
- Kestrl: Muslim Money Appkestrl.io · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Kestrl: Muslim Money App do?
- UK fintech whose app helps Muslims budget, save and invest in line with their beliefs, plus PFM SaaS for banks.
- Who founded Kestrl: Muslim Money App?
- Kestrl: Muslim Money App was founded by Ayaz Siddiqui, Daeng Termizi in 2020.
- Who are Kestrl: Muslim Money App's investors?
- Kestrl: Muslim Money App's investors include Aweh Ventures, Techstars.
- Where is Kestrl: Muslim Money App headquartered?
- Kestrl: Muslim Money App is headquartered in Waltham Abbey, GB.