Sabika Secures Six-Figure Investment for Sharia-Compliant Gold & Silver Platform
Egyptian startup Sabika, a Sharia-compliant digital platform for gold and silver investments, has secured a significant boost. The startup, led by founders Ibrahim Anwar and Mohammed Darwish, has attracted a six-figure US dollar investment, with Endeavor Catalyst leading the 2023 round.
Sabika, launched in 2022, offers secure and transparent investment options, appealing to both individuals and businesses. The platform has swiftly gained traction, reaching over 20,000 users across 27 Egyptian cities, with a transaction volume exceeding EGP120 million.
The new funding will fuel Sabika's growth and innovation. The startup plans to enhance its platform, integrate AI-driven features, and expand into the Saudi market by 2025. Notably, a strategic investment led by M-Empire Angels will support Sabika's expansion in Egypt and the Gulf.
Sabika's success, marked by its user base and transaction volume, has attracted substantial investment. The startup's plans for platform improvements, AI integration, and regional expansion indicate a promising future for this Sharia-compliant digital investment platform.
