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 27 days ago
 Source: betakit.com

Halal FinTech startup Manzil launches private placement offering on FrontFundr

Quick Summary

Manzil, a Toronto-based FinTech startup that offers halal financial solutions including mortgages, is offering the public a chance to invest in the company through a private placement on crowdfunding platform FrontFundr. Manzil says it has created financial products designed to be participatory, rather than predatory. Manzil claims Canadian Muslims have a spending power of $20 billion dollars, yet have low participation in homeownership. “Here, the lender is not purchasing the property, but is simply making money by lending you money,” the startup said. In 2017, Wealthsimple launched its own halal investment portfolio intended to help Muslims invest in accordance with religious principles.

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