Zoya
Zoya is a halal investing mobile platform that screens over 30,000 global stocks, ETFs, and mutual funds for Shariah compliance using AAOIFI methodology, enabling Muslim retail investors across nine countries to build, monitor, and trade compliant portfolios through a non-custodial freemium app.
- Company typePrivate
- Founded2023
- HeadquartersNew York, United States
- Headcount1–10
- GTM typeB2B and B2C
- OfferingSoftware
What Zoya does
Zoya (operated by Investroo Inc.) is a Shariah-compliant investing platform that serves Muslim retail investors seeking to align their portfolios with Islamic law. The company provides a mobile-first application available on iOS and Android that combines portfolio tracking, Shariah compliance screening, brokerage-integrated trading, Zakat calculation, and a community forum. Its core technology applies AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) screening methodology under the guidance of a panel of internationally recognized Shariah scholars, including Sheikh Muhammad Taqi Usmani, Sheikh Mohamed Ali Elgari, Sheikh Abdullah AlManea, Sheikh Nizam Yaquby, and Dr. Aznan Hassan. The platform covers 30,000-40,000+ global stocks, ETFs, and mutual funds across nine countries, with quarterly compliance report updates aligned to corporate financial reporting cycles.
Zoya operates a non-custodial model in which user assets remain at connected brokerages (Alpaca, Tastytrade, Public, Webull, Wealthsimple, Questrade, Stake), with Plaid powering account linking. The company monetizes through a freemium consumer subscription (Zoya Pro) for advanced features plus a B2B API product offering Personal Use and Commercial Use license tiers. Marketing is primarily organic and community-driven through content, social media, and word-of-mouth within Muslim investor communities. The platform reports 400,000+ users, $1 billion in connected assets as of August 2024, and a 4.8 App Store rating.
The company was co-founded by CEO Saad Malik and CTO Bilal Quadri and is headquartered in New York with a listed office address in Middletown, Delaware. Per firmographic data it was founded in 2020, though a separate source dates founding to 2023. Disclosed external capital is minimal — approximately $150,000 from Oraseya Capital and SANDBOX accelerator in August 2024 — indicating a bootstrapped, capital-efficient operating model with 1-10 employees.
Zoya firmographics
Firmographics- Name
- Zoya
- Legal name
- Investroo Inc.
- Website
- https://zoya.finance
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Zoya is a halal investing mobile platform that screens over 30,000 global stocks, ETFs, and mutual funds for Shariah compliance using AAOIFI methodology, enabling Muslim retail investors across nine countries to build, monitor, and trade compliant portfolios through a non-custodial freemium app.
- Ownership category
- akta.pro rank
Zoya industry classification
Industry- Product category
- Islamic Finance / Halal Investing Software
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- ESG/Sustainable & Thematic Digital Investing Platforms (FSAGAEAK)
- akta.pro secondary industry
- Islamic Private Banking & Wealth (FSABAGAD)
Keywords
Where Zoya is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Zoya business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Zoya Pro Subscription: Premium subscription offering advanced features including detailed Shariah compliance reports, custom baskets, and enhanced portfolio analysis. Billed monthly or annually through Apple App Store, Google Play, or Stripe
- API Access - Commercial License: Commercial use license for business entities and professional users to display API data internally or externally, subject to Zoya's prior review and written approval
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Others | Free tier with basic Shariah compliance screening |
| Subscription | Monthly | Zoya Pro premium subscription |
| Subscription | Annual | Zoya Pro annual subscription |
| Subscription | Pay-as-you-go | API Basic Access - Personal Use License |
| Subscription | Pay-as-you-go | API Advanced Access - Commercial Use License |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Zoya product offering
Product offeringCore offering
Zoya is a Shariah-compliant investing platform that screens over 30,000+ global stocks, ETFs, and mutual funds for Islamic compliance using AAOIFI methodology under the guidance of a panel of renowned Islamic scholars. The platform provides Muslim investors with portfolio tracking via brokerage sync, stock and ETF screening, integrated trade execution through partnered brokerages, smart compliance alerts, Zakat calculation, and customizable stock baskets, and also exposes its compliance data via an API for developers and commercial partners.
Product overview
Zoya is a comprehensive all-in-one halal investing platform and mobile application that helps Muslim investors build and monitor Shariah-compliant investment portfolios. The platform operates a unified ecosystem combining multiple products: the core Zoya Mobile App serves as the primary interface, powered by a Portfolio Tracker for brokerage account syncing, a Shariah Compliance Screener covering 40,000+ global stocks, an ETF & Mutual Fund Screener, and integrated Buy & Sell trading functionality through partnered brokerages. Supporting features include Smart Alerts for compliance monitoring, a Zakat Calculator for charitable obligation tracking, and Stock Baskets for fee-free custom ETF recreation. The platform offers a premium Zoya Pro subscription tier and exposes its compliance methodology via a Zoya API for developers. A Community forum provides peer-to-peer support for users navigating halal investing.
Differentiator
Problem solved
Functional benefit
Brands
- Zoya Pro: Premium subscription tier offering advanced features including extended stock screening capabilities, deeper compliance reports, and enhanced portfolio analysis tools.
Products and services
- Zoya Mobile App A comprehensive halal investing mobile application for iOS and Android that enables Muslims to build and monitor Shariah-compliant investment portfolios. Includes portfolio tracking, stock screening, brokerage integration, and Zakat calculation.
- Zoya API Application Programming Interface providing access to Zoya's proprietary Shariah compliance data and financial services for developers, researchers, and business entities. Available in Basic and Advanced tiers with Personal and Commercial license options.
Quantifiable outcome
- Trusted by 400,000+ Muslim investors
- +1 more outcomes
Companies that use Zoya
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles2 records
Zoya technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration12 records
AI capability2 records
Feature7 records
Zoya partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- AlpacacoreAlpaca is a commission-free trading API platform that enables Zoya users to execute trades. Zoya passes orders securely to Alpaca for execution. Alpaca is listed as a supported broker for global users to trade individual stocks and baskets.
- TastytradecoreSupported brokerage partner enabling Zoya users to trade individual stocks and custom baskets through Tastytrade platform.
- PubliccoreUS-based brokerage partner allowing Zoya users to trade individual stocks and baskets on the Public platform.
- Webull UScoreUS-based brokerage partner enabling Zoya users to execute trades through Webull platform.
- WealthsimplecoreCanadian brokerage partner for Zoya users in Canada to trade individual stocks and baskets.
- QuestradecoreCanadian brokerage partner enabling Questrade users to trade individual stocks through Zoya.
- StakecoreAustralian brokerage partner for Zoya users in Australia to trade individual stocks and baskets.
- PlaidcoreData aggregation platform used by Zoya to securely connect and sync user brokerage accounts for portfolio tracking.
- Manzil Russell Halal USA ETF (MNZL)minorPromotional partnership where Zoya features Manzil Russell Halal USA ETF on stock pages as an alternative investment option for users seeking broad halal exposure through a single ETF.
- AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions)coreInternational nonprofit organization based in Bahrain that develops uniform standards for the Islamic finance industry. Zoya applies AAOIFI screening methodology under guidance of Shariah advisors, following the same standards used globally for Islamic finance compliance.
- Shariah Advisory BoardcorePanel of renowned Islamic scholars providing guidance on Shariah compliance methodology including Sheikh Muhammad Taqi Usmani, Sheikh Mohamed Ali Elgari, Sheikh Abdullah AlManea, Sheikh Nizam Yaquby, and Dr. Aznan Hassan.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
Zoya competitors and assessment
Company assessmentDirect peers
- Wahed Invest: Wahed is a global halal robo-advisor and investing platform that offers Shariah-compliant portfolios, ETFs, and a mobile app. It directly competes with Zoya for Muslim retail investors but operates a custodial, AUM-based model rather than Zoya's non-custodial screening approach.
- Islamicly: Islamicly is a halal investing app providing Shariah stock screening, portfolio analysis, and Zakat tools for Muslim investors globally. It is the closest direct competitor to Zoya in terms of product surface area (screener + portfolio tracking + Zakat).
- Musaffa: Musaffa offers Shariah stock screening, halal ETF screeners, and a Zakat calculator for Muslim investors. It overlaps directly with Zoya on compliance screening methodology and is a direct competitor in the US halal investor market.
Broad incumbents
- Saturna Capital (Amana Funds): Saturna manages the Amana family of mutual funds, one of the largest US-based Shariah-compliant fund complexes. It competes for the same end-investor wallet by offering halal managed portfolios rather than a screening app, representing an incumbent product alternative to Zoya Pro.
- SP Funds: SP Funds (Sharia Portfolio) offers the SP Funds S&P 500 Sharia ETF and other halal ETFs, providing a managed-product alternative to Zoya users who would otherwise build DIY halal portfolios. Their ETF options compete directly with Zoya's Stock Baskets feature.
Emerging players
- Manzil Russell Halal USA ETF (MNZL): Manzil Russell Halal USA ETF (ticker MNZL) is a halal ETF already promoted within Zoya's app as an alternative. It is an emerging player offering one-ticket halal US exposure, competing with Zoya's Stock Baskets for users who prefer a single managed product.
- Wahed FTSE USA Shariah ETF (HLAL): HLAL is one of the most widely held US halal ETFs, listed on NASDAQ. It competes with Zoya's Stock Baskets by offering an off-the-shelf halal US equity ETF for retail investors who prefer passive products over DIY basket construction.
Others
- Wealthsimple: Wealthsimple is a Canadian brokerage platform that Zoya integrates with for trade execution. While not a direct halal investing competitor, Wealthsimple's own Shariah-compliant investment options and growing halal product suite make it both a partner and adjacent competitor.
- Robinhood: Robinhood is one of the most-mentioned brokerages in Zoya user reviews for portfolio syncing. It is not a halal specialist, but as a low-friction retail broker with broad Muslim community adoption, it represents the underlying distribution layer that Zoya's screening service is layered on top of.
- ShariaPortfolio (IdealRatings / Shariyah Review): Shariyah Review and IdealRatings provide Shariah screening and Shariah advisory services to financial institutions. They are an upstream/adjacent player — competitors and potential partners to Zoya's B2B API offering for institutional Shariah compliance data.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Zoya social profiles
Digital presenceZoya compliance and trust
Trust signalCompliance1 record
Zoya financial estimates
Financial estimateRevenue estimate
Valuation estimate
Zoya leadership team
Management profileNumber of profiles
Profiles2 records
Zoya funding detail
Funding detailFunding overview
Funding rounds2 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Zoya M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Zoya
What does Zoya do?
Zoya is a Shariah-compliant investing platform that screens over 30,000+ global stocks, ETFs, and mutual funds for Islamic compliance using AAOIFI methodology under the guidance of a panel of renowned Islamic scholars. The platform provides Muslim investors with portfolio tracking via brokerage sync, stock and ETF screening, integrated trade execution through partnered brokerages, smart compliance alerts, Zakat calculation, and customizable stock baskets, and also exposes its compliance data via an API for developers and commercial partners.
Is Zoya a public or private company?
Zoya is a private company. It is classified as venture growth investor backed and is currently operating.
When was Zoya founded?
Zoya was founded in 2023. It employs 1 to 10 people.
Where is Zoya based?
Zoya is headquartered in New York, United States, in the North America region.
How does Zoya make money?
Two revenue lines are on record. Zoya Pro Subscription is the primary driver. The others are API Access - Commercial License.
Who are Zoya's main competitors?
Direct peers on record are Wahed Invest, Islamicly and Musaffa. Broad incumbents are Saturna Capital (Amana Funds) and SP Funds. Emerging players are Manzil Russell Halal USA ETF (MNZL) and Wahed FTSE USA Shariah ETF (HLAL). Others are Wealthsimple, Robinhood and ShariaPortfolio (IdealRatings / Shariyah Review).
Does Zoya have an API?
Yes. Zoya offers APIs to facilitate access to proprietary financial data and services. Two tiers of API access are available: Basic and Advanced. Each tier is available under Personal Use License (for personal, non-commercial use) and Commercial Use License (for business entities, requires prior review and written approval for external data display). APIs are subject to usage limitations and rate limits as described in documentation. Attribution is required with 'Data provided by Zoya' and a link to https://zoya.finance/api. Developer documentation is at zoya.finance/api.
What industry is Zoya in?
Zoya's product category is Islamic Finance / Halal Investing Software. Its primary akta.pro industry code is FSAGAEAK, ESG/Sustainable & Thematic Digital Investing Platforms, with a secondary code of FSABAGAD, Islamic Private Banking & Wealth. Its NAICS code is 523940 and its SIC code is 6282.