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Status: Active

Dec 15th 2020 - Jan 24th 2021

5 days left

Kestrl is a mobile app based on the principles of Islamic banking. It aims to cater to the over 1.9 million British Muslim community to invest in the UK in line with their religious beliefs. Consumers can avail a host of financial services from finding interest-free savings accounts to taking out a mortgage. The company raised a £135,000 pre-seed round from C-level Islamic banking professionals in January 2020. It also launched its application on Google Playstore and App store in September 2020. Kestrl is working on launching an equity-based home purchase product soon. It also aspires to expand to Malaysia/Indonesia by white labelling with established retail banks and utilising its 'inside knowledge' of the region. It will use 39% of the investment towards platform up-gradation and tech team expansion, 20% towards hiring personnel across various departments, 19% for maintaining agency license fees and acquiring its own regulatory permissions, 8% in marketing, and 14% towards ancillary costs.

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Kestrl Rating Review

Rated on 04/08/2020

Pitch Rated

50%

Insufficient Data

Management

79%

Product

71%

Investment

UNRATED*

* Section unrated owing to insufficient or incomplete information available at the time of rating.

Pitch rating powered by CROWDRATING

  • £186,902
    pledged
  • 116%
    of goal

    £160,003
    target

    £4,999,992
    pre-money valuation

    3.10%
    equity available

    173
    investors

    £1,080
    pledge per investor

    12297799
    company number

    Active
    company status

    05/11/2019
    incorporated 1 years

    Previous Funding rounds
    15 Dec 20 Seedrs £186,902 / 117% 50.00%

What the ratings mean

  • 49% and under
    We suggest potential investors carry out further study of their own
    50-64%
    Room for improvement
    65-79%
    Worth considering
    80%+
    Gold rating, our highest rating
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Management 79%

Skills 91%
Kestrl was developed by two founders who met at the Cambridge MBA programme and decided to combine their fintech and Islamic banking experiences to help a seriously underserved market. The Founder/CEO boasts qualifications in fintech and is passionate about tackling the investment ‘advice gap’ with automated solutions. The Founder/COO specialises in creating specialist ethical products for retail consumption. He is passionate about technology in changing the financial industry. The CTO has full-stack development expertise, from UI/UX design to managing large development teams. The Head of Data Science is a machine learning expert, specialising in developing algorithmic trading platforms. Their Finance Head (CFO) is a trained and qualified Chartered Accountant (ACA). He is the head of financial crime within his consultancy and has detailed knowledge of the FCA’s authorisation processes. He is skilled in Regulatory Risk (Conduct Risk, MiFID II, GDPR), Financial Crime, AML, Audit, Accounting, Asset Management / Investment Management, IT Audit, Investment Banking Audit, Due Diligence, and Operational Risk management.

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Funding progress



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  • £186,902
    pledged
  • 116%
    of goal

    £160,003
    target

    £4,999,992
    pre-money valuation

    3.10%
    equity available

    173
    investors

    £1,080
    pledge per investor

    12297799
    company number

    Active
    company status

    05/11/2019
    incorporated 1 years

    Previous Funding rounds
    15 Dec 20 Seedrs £186,902 / 117% 50.00%
  • Internet Business Awards Category Award Winner 2015
  • Hertfordshire Business Awards Finalist 2014

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