The Sharia-compliant wealth management service raised the cash in a round co-led by Saudi Aramco Entrepreneurship Ventures.

Oil and gas supplier Saudi Aramco has co-led a $25m funding round for Wahed, the US-based provider of a Sharia-compliant robo-advisory platform, through its Saudi Aramco Entrepreneurship Ventures unit, MenaBytes reported yesterday.

Venture capital firm Beco Capital co-led the round, which also featured Cue Ball Capital, the Dubai state-backed Dubai Cultiv8 and members of undisclosed Middle Eastern family offices.

Wahed has built a robo-advisory service that uses artificial intelligence to help users in the US, UK and Malaysia make ethical…

Robert Lavine

Robert Lavine is special features editor for Global Venturing.