Musaffa

Musaffa

Early Stage

Islamic Fintech: Giving Access to Halal Investments Globally

Islamic Fintech: Giving Access to Halal Investments Globally

Overview

Raised this Round: Raised: $150,719

Total Commitments ($USD)

Platform

Wefunder

Start Date

01/17/2024

Close Date

02/16/2024

Min. Goal
$50,000
Max. Goal
$500,000
Min. Investment

$500

Security Type

Equity - Common

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$4.00

Pre-Money Valuation

$29,425,484

Year Founded

2024

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2C

Margin

Low

Capital Intensity

Low

Location

Dover, Delaware

Business Type

High Growth

Musaffa, with a valuation of $29.4 million, is raising funds on Wefunder. The company has developed an exclusive platform to give access to halal investments globally. Musaffa is an Islamic fintech platform and is used by 317,000 users from 182 countries. The business has partnered with ten B2B partners to establish a global halal investment environment and has been featured in The Halal Times, Islam Chanel, and Islamic Finance News. Dilshod Jumaniyazov, Akram Jagirdar, and Rashid Turaev founded Musaffa in April 2022. The current crowdfunding campaign has a minimum target of $50,000 and a maximum target of $500,000. The campaign proceeds will be used for operations, product and software development, business development, sales and marketing, licensing, and compliance.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$21,395

$495

COGS

$88,337

$19,912

Tax

$0

$0

 

 

Net Income

$-291,932

$-80,477

Summary Balance Sheet

FY 2022 FY 2021

Cash

$83,095

$1,094

Accounts Receivable

$2,109

$0

Total Assets

$237,779

$47,339

Short-Term Debt

$35,693

$16,237

Long-Term Debt

$35,224

$0

Total Liabilities

$70,917

$16,237

Financials as of: 01/17/2024
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Musaffa 03/17/2025 Dealmaker Securities $33,920,634 $167,265 Equity - Common Active RegCF
Musaffa 02/15/2024 Wefunder $29,425,484 $150,719 Equity - Common Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Valuation History

Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Employee History

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Musaffa on Wefunder 2024
Platform: Wefunder
Security Type: Equity - Common
Valuation: $29,425,484
Price per Share: $4.00

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