UAE’s Raseed raises $1.1mln in a pre-seed round

Founded in early 2020, Raseed facilitates the process of buying and selling stocks

  
Traders react during the opening of the Dubai stock market June 26, 2016. Image used for illustrative purpose.

Traders react during the opening of the Dubai stock market June 26, 2016. Image used for illustrative purpose.

REUTERS/Ahmed Jadallah
UAE-based investment platform Raseed has raised $1.1 million in a pre-Seed round led by Impact46, according to WAMDA.

The financing will support the company’s product development and will increase its user base by providing advanced investment opportunities.

“Through best-in-class technologies and partnerships, we have simplified the customer onboarding process, reduced onboarding time to minutes, and eliminated the high barriers to buying and owning stocks,” founder of Raseed, Abdel Sallam Qatshan, said.

Founded in early 2020, Raseed facilitates the process of buying and selling stocks on the US markets to investors in Saudi Arabia, UAE and Bahrain, through a commission-free application.

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