- Pre-money valuation of RM42,900,000 (USD9.62 million) with practically 6 million app downloads
- Buyers can partake within the fairness crowdfunding marketing campaign with a minimal funding quantity of RM500 for 20 shares
19 August 2022, Kuala Lumpur, Malaysia – Malaysia’s first-ever Islamic way of life tremendous app, TheNoor (Noor Luminous Sdn Bhd) goals to lift RM5 million (USD 1.12 million) through Malaysian impression funding and Islamic fairness crowdfunding platform, Ethis.
At a pre-money valuation of RM42,900,000 (USD9.62 million), buyers can participate within the fairness crowdfunding marketing campaign for TheNoor (which suggests gentle in Arabic) with a minimal funding quantity of RM500 for 20 shares.
Since launched in January 2021, TheNoor has already gained practically 6 million downloads on the Google Play Retailer and the Apple App Retailer, empowering over 2.8 million registered customers. Apart from serving to customers obtain their non secular dedication, the app brings them nearer to their faith by means of steady studying and publicity to the teachings of Islam by means of a extra contemporary, accessible, interactive and individualized methodology.
The religion-based app goals to assist extra Muslims dwell a holistic way of life by means of its number of in-app options, which embody real-time location detection to find close-by mosques and Qiblah, prayer time schedules, seamless Zakat cost monitoring, built-in Faraid algorithm to calculate and allocate estates and climate updates.
The present core utility supplies a contemporary and complete on-the-go Al-Quran participant that comes with high-resolution audio voice translation choices in 5 languages, with extra languages quickly to be added. It additionally options Al-Quran studying help for inexperienced persons.
TheNoor co-founder and chief expertise officer, Mohd Izzairi Yamin is an skilled tech entrepreneur having launched a VC-backed startup and acquired assist from companies reminiscent of MRANTI (previously referred to as MaGIC). Izzairi stated that the funding can be channeled to capitalize on a fast-growing market, enhance analysis and improvement push, improve promoting and promotion efforts in addition to develop the staff.
“The crowdfunding will assist us refine our utility in order that we proceed to create choices that can nurture and enrich the existence of Muslims across the globe. The halal business is swiftly changing into a aggressive and fast-moving sector globally and we need to faucet this by means of tech. Tech allows extra Muslims to attain their non secular dedication by remodeling how we have interaction with Islam. We’re constantly engaged on a wide range of new options to create added worth for our customers and can see the rollout of extra interactive content material, academic choices for youths, Shariah Counters Projections, an e-wallet and extra.”
The app is appropriate with lively gears permitting customers to trace their Solah patterns and monitor their calorie burn price throughout Solah. The in-app market, NoorCommerce, has been revamped, enabling customers to browse, buy and promote halal merchandise in multi currencies.
Noor Neelofa Mohd Noor, TheNoor co-founder and chief govt officer stated: “TheNoor was designed for Muslims such as you and me who juggles between the demand of contemporary lives whether or not at house, work or once we journey. It’s a go-to useful resource for Muslims in every single place to type significant relationships with the faith by means of guided teachings and choices which might be rooted in Islamic rules and beliefs. Not solely can expertise assist us be extra productive and linked, however it will possibly additionally assist us develop into higher Muslims.”
Whereas the app is free, TheNoor employs an easy-to-scale enterprise mannequin and generates income by means of its monetary and journey providers, partnerships, eCommerce and in-app promoting.
“As the primary shariah-compliant ECF platform in Malaysia, there’s a pure synergy between us and TheNoor when it comes to our core values, propositions and basic beliefs to assist the speedy development of the Islamic financial system collectively. At ETHIS, we’re honoured to have the ability to assist TheNoor’s crowdfunding marketing campaign as a part of their continued development journey and ambition to impression Muslims world wide. We see that as an ongoing effort to flow into good not simply amongst Muslims but in addition involving the overall society. This crowdfunding marketing campaign serves as a possibility for all to assist one of many quickest rising Malaysian Islamic-based tech startup by the use of investing in them,” stated Ethis Malaysia Chief Government Officer Wan Mohd Dazriq Wan Zulkiflee.
This 12 months, in collaboration with Tabung Haji Journey & Companies Sdn Bhd (THTS), TheNoor plans to introduce in-app umrah packages, enabling customers to conduct every thing umrah related- from registrations and bookings proper as much as the completion of the Islamic pilgrimage. It additionally features a mutawif tracker, detailed journey itinerary, journey insurance coverage, foreign money change providers and an umrah course for customers to get a refresher on rituals.
In keeping with the ‘State of the World Islamic Economic system Report 2018/19’ by Thomson Reuters in cooperation with DinarStandard, the worldwide halal market is predicted to achieve US$9.71 trillion by 2025, with international locations reminiscent of Malaysia anticipated to paved the way within the coming years.
Current companions of TheNoor embody Financial institution Islam, Fasspay, Fipper, Furada, Google Cloud, King Fahd Wonderful Quran Printing, PPZ Kuala Lumpur, Max Cash, Cut up, Tabung Haji Journey, ZeptoExpress and Zurich Basic Takaful.
TheNoor can be operating an Al-Quran recital competitors in September 2022. The highest 5 winners obtain a free Umrah in addition to 3 funding blocks in TheNoor value RM1,500.
buyers can partake in TheNoor’s fairness crowdfunding marketing campaign right here https://ethis.co/my/mission/thenoor/.
About TheNoor
TheNoor (Noor Luminous Sdn Bhd) is Malaysia’s first-ever Islamic way of life tremendous app. TheNoor (which suggests gentle in Arabic) is a shariah-guided firm with an goal to carry Muslims nearer to Islam by means of steady studying and publicity to the teachings of Islam through contemporary, accessible, interactive and individualized strategies. Apart from serving to customers obtain their non secular dedication, the faith-based app hopes to assist extra Muslims dwell a holistic way of life by means of its number of in-app options.
TheNoor app is on the market for obtain on the Google Play Retailer, Huawei App Gallery and the Apple App Retailer.
For extra details about TheNoor, go to https://www.thenoor.co/my/
For media enquiries, please contact
Hazel Hassan
Electronic mail: hazel@satucreative.com Cell: +6019 217 8191
Azuar Zainuddin
Electronic mail: azuar@satucreative.com Cell: +6012 279 0119
About Ethis Malaysia
Ethis Malaysia, a Acknowledged Market Operator (RMO) accredited underneath Securities Fee Malaysia, is part of Ethis Group which operates funding platforms accredited by regulators in Indonesia, Malaysia, and Muscat along with the charity platform GlobalSadaqah.
Ethis Group’s platforms serve bizarre folks, high-net-worth people, and company, and authorities entities. Ethis constructed our preliminary observe document from 2016 to 2020 in social housing in Indonesia the place our international neighborhood of buyers from greater than 84 international locations funded improvement tasks to construct near 10,000 properties.
Because the onset of COVID-19, Ethis Group has launched common new funding merchandise, together with short-term, high-yield supply-chain financing tasks in Indonesia and fairness funding in ‘future tech’ startups in Malaysia. Its social finance market GlobalSadaqah performs a significant function in matching donors and Islamic financial system gamers to higher distribute social finance and zakat to NGOs and social enterprises.
We exist to #circulategood. Our deep want to create a extra moral type of finance to uplift humanity has attracted important finance and neighborhood leaders to assist our imaginative and prescient and mission.
For extra details about Ethis Group, please go to https://ethis.co/
For media enquiries, please contact:
Anis Muslimin
Senior Supervisor, Advertising and Communication Ethis World Sdn. Bhd Electronic mail: anismuslimin@ethis.co
Tel: +6 011 1639 0920
Afiqah Abdul Aziz
Public Relation and Advertising Government Ethis World Sdn. Bhd Electronic mail: afiqah@ethis.co
Tel: +6012 304 5041
