Baraka, a commission-free online brokerage platform based in the Middle East, has raised USD20 million in a Series A funding round, led by Peter Thiel’s Valar Ventures with participation from global investment firm Knollwood.
The proceeds will be used by Baraka to expand across the GCC and Egypt, increase customer acquisition, and hire staff across key departments.
Latham & Watkins has advised Baraka in the round. The team was led by Dubai partner Eyad Latif (pictured left) and counsel Omar Maayeh (pictured right).
Launched in 2021, the Dubai-based start-up allows users across the Middle East to invest commission-free in over 6,000 US stocks and exchange-traded funds.