UK Islamic Fintech Kestrl joins Techstars London’s 2022 cohort
London, United Kingdom – (Newsfile Corp. – Nov 18, 2022) – Techstars London has admitted Kestrl, a UK-based Islamic Fintech offering personal finance solutions to Muslims, into its 2022 accelerator program along with 11 other high-growth potential start-ups.
Alongside the investment in the startup, Techstars will offer one-on-one mentorship from former founders and experienced investors to help Kestrl scale aggressively, acquire new customers and prepare for upcoming funding rounds.
Techstars London’s 2022
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Founded in 2019 by two Cambridge graduates, Kestrl branded itself as ‘The Muslim Money App’, promising to help users grow their wealth without compromising their religious beliefs. It does this with its UK consumer app that enables Muslims to budget, save and invest with confidence, as well as a software service offered to Islamic banks looking to digitally transform.
One of the world’s leading accelerator programs, Techstars has invested in more than 3,300 companies worldwide that today have a combined valuation of USD 75 billion. London is Techstar’s third largest base globally, part of a larger network that includes 50 programs around the world.
The accelerator received more than 1,000 applicants to the program and conducted over 400 interviews before selecting the final group for 12 coveted spots. Known for setting aggressive milestones, Techstars hopes that Kestrl will capitalize on its recent success in Malaysia, white label its app as ‘Bank Islam Malaysia’ and help other Islamic banks in the region transform digitally.
Areeb Siddiqui, Managing Director, Kestrl said: “We are delighted to have received validation from one of the most prestigious accelerators in the world through their investment and mentorship. Together, we look forward to taking Kestrl to new heights and ultimately changing the lives of millions of Muslims around the world to better.”
Saalim Chowdhury, CEO, Techstars London: “Islamic finance is such a large market and waiting for real innovation, which the Kestrl team delivers better. Their product is on par with anything in any financial market, and the team are some of the most understanding of their customers. have met.”
About Kestrl Ltd
Kestrl is a fast-growing UK-based Islamic Fintech that promises to help Muslims grow their wealth without compromising their faith. Called “The Muslim Money App”, Kestrl’s tool helps its users achieve their goals, using machine learning on their bank data to build monthly budgets, automatic savings and personalized investment suggestions. Offered both as a retail app as well as a software solution for banks looking to go digital, Kestrl has gained thousands of users across the UK and Middle East and hopes to offer its software to more banks in South East Asia that are Shariah compliant -values.
For more information, visit: https://kestrl.io/
Read more here: https://finance.yahoo.com/news/bank-islam-partners-uk-islamic-122000714.html
Company: Kestrl
Location: London
Email: [email protected]
Web address: https://kestrl.io/
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