Zoya

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.

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

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

• Shariah compliance screening
• Halal investing platform
• Islamic finance tools
• Portfolio compliance tracking
• Zakat calculation software

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. 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
2. 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

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core 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

Named customers1 record

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

AI capability2 records

Feature7 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• AlpacacoreTechnology or IntegrationAlpaca 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.
• TastytradecoreTechnology or IntegrationSupported brokerage partner enabling Zoya users to trade individual stocks and custom baskets through Tastytrade platform.
• PubliccoreTechnology or IntegrationUS-based brokerage partner allowing Zoya users to trade individual stocks and baskets on the Public platform.
• Webull UScoreTechnology or IntegrationUS-based brokerage partner enabling Zoya users to execute trades through Webull platform.
• WealthsimplecoreTechnology or IntegrationCanadian brokerage partner for Zoya users in Canada to trade individual stocks and baskets.
• QuestradecoreTechnology or IntegrationCanadian brokerage partner enabling Questrade users to trade individual stocks through Zoya.
• StakecoreTechnology or IntegrationAustralian brokerage partner for Zoya users in Australia to trade individual stocks and baskets.
• PlaidcoreTechnology or IntegrationData aggregation platform used by Zoya to securely connect and sync user brokerage accounts for portfolio tracking.
• Manzil Russell Halal USA ETF (MNZL)minorGTM or Marketing PartnerPromotional 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)coreStrategic or Co-development PartnerInternational 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 BoardcoreStrategic or Co-development PartnerPanel 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

Direct 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

• Xx.com/zoyafinance
• YouTubeyoutube.com/@ZoyaFinance
• Facebookfacebook.com/zoyafinancial
• LinkedInlinkedin.com/company/zoya-finance
• Instagraminstagram.com/zoya.finance
• TikToktiktok.com/zoyafinance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zoya