UAE-based investment app, baraka raised $20 million in Series A led by Valar Ventures, a venture capital firm backed by Peter Thiel where global investment firm Knollwood also participated.
Baraka aims to provide investors in the region with commission-free investing as well as access to US stocks and Exchange Traded Funds (ETFs). Investors on baraka can achieve financial independence by building diversified portfolios and long-term wealth by taking advantage of global equity markets. With this new investment, baraka will expand its presence in the GCC and Egypt, as well as drive customer acquisition. The company will continue to improve its app by adding new features such as dividend reinvestment plans and extended trading hours.