What Aghaz Investments does

Aghaz Investments is a Seattle-based private company founded in 2020 that operates an automated investment management platform serving Muslim and values-based investors in the United States and Canada. The platform, marketed under the Manzil brand, delivers Shariah-compliant investing through managed portfolios, self-directed trading, the MNZL ETF, and tax-advantaged retirement accounts (traditional IRA and Roth IRA). Investment advisory services are provided through Manzil Investment Advisors, LLC, a registered investment adviser based in Dallas, TX, while securities execution and brokerage are handled through a partnership with Alpaca Securities, a registered broker-dealer. Revenue mechanics combine recurring advisory fees on managed portfolios with transaction-based fees on self-directed trading, with specific pricing disclosed only in the firm's written disclosure documents.

The platform's core differentiator is a three-layer Shariah Governance framework adhering to AAOIFI international standards, supported by an external Shariah Supervisory Board of independent Muftis who verify every product's halal status. Additional proprietary features include purification calculation tools that help investors cleanse non-compliant income from their portfolios. Distribution is entirely digital-first and self-serve, with a web application at manzil.co, dedicated iOS and Android apps, and active presence across Instagram, LinkedIn, Facebook, YouTube, and the Halal Finance Hub content platform targeting top-of-funnel education and acquisition. Geographic reach currently spans the United States (manzil.co) and Canada (manzil.ca).

The company has raised approximately $600,000 in disclosed funding across a 2020 seed round and a 2021 tranche from Expert Dojo, while operating with a 1-10 employee headcount. There are no publicly disclosed pricing schedules, revenue figures, AUM statistics, or institutional investors. The platform competes in a niche segment of the robo-advisory market defined by religious-compliance requirements, leveraging third-party scholar verification rather than proprietary algorithmic screening as its primary trust mechanism.

Name

Aghaz Investments

Legal name

Manzil Inc.

Website

https://aghazinvest.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Aghaz Investments operates the Manzil halal investment platform, providing Shariah-compliant managed portfolios, trading, ETFs, and retirement accounts to Muslim and values-based investors in the US and Canada via a digital self-serve platform under AAOIFI-compliant Shariah governance.

Ownership category

akta.pro rank

Product category

Digital Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Islamic Retail Banking (FSABAGAA)

akta.pro secondary industries

Islamic Private Banking & Wealth (FSABAGAD), Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa) (FSABAGAJ)

Keywords

• Halal investing platform
• Values-based investing
• Automated portfolio management
• Ethical investment management
• Robo-advisor platform

Headquarters

HQ city

Seattle

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Investment Advisory Services: Manzil Investment Advisors, LLC provides investment advisory services and charges fees for managing client portfolios. The company is a registered investment adviser in Dallas, TX. Specific fee structures are available in their written disclosure statement.
2. Securities Trading: Securities are offered and sold through Alpaca Securities, a registered broker-dealer partner

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Aghaz Investments operates an automated investment management platform designed for Muslim and values-based investors. The platform delivers automated portfolio construction and ongoing management aligned with the religious principles of Islamic finance and broader ethical/values-based criteria for investors who want hands-off, principle-aligned wealth management.

Product overview

Manzil is a unified halal investing platform offering a comprehensive suite of investment products including managed portfolios, self-directed trading, and tax-advantaged retirement accounts (IRA and Roth IRA). The platform is anchored by the MNZL ETF and complemented by the Manzil Invest mobile app for on-the-go portfolio access. Additional offerings include a Halal Finance Hub for educational content and Shariah purification tools. All products undergo rigorous third-party Shariah compliance verification through external Muftis and adhere to AAOIFI standards, with automated portfolio purification available.

Differentiator

Problem solved

Functional benefit

Brands

• MNZL ETF: A halal ETF offered by Manzil for Shariah-compliant investing.

Products and services

• Automated Investment Management Platform Digital automated investment management platform that constructs and manages investment portfolios for individual investors, with screening aligned to Islamic finance principles and broader values-based criteria.

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Alpaca SecuritiescoreTechnology or IntegrationAlpaca Securities handles securities trading and brokerage services for Manzil's platform. Securities are offered and sold through Alpaca Securities, which is a registered broker-dealer. This partnership enables Manzil to offer trading capabilities while maintaining its focus on investment advisory services and Shariah compliance.
• External Independent Scholars/ MuftiscoreStrategic or Co-development PartnerManzil has a Shariah Supervisory Board comprising external independent Muftis who provide rigorous, independent Shariah audits to ensure all financial solutions meet the highest ethical standards of Islamic finance. This is part of Manzil's three-layer Shariah Governance framework adhering to AAOIFI standards.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Sarwa: Sarwa is a UAE-founded digital wealth platform operating in the UAE and US, offering halal investment portfolios, self-directed trading, and retirement accounts. It directly competes with Manzil for US Muslim retail investors and is pursuing a similar product expansion strategy.
• Wahed Invest: Wahed is the leading global digital halal investment platform, offering managed portfolios, retirement accounts, and ETFs (Wahsati, Wahed ESG) to Muslim investors in the US, UK, and other markets. It is the most direct and well-funded competitor to Manzil in the retail Shariah-compliant investing space.
• SP Funds (S&P 500 Sharia ETF — SPUS): SP Funds sponsors the SPUS Sharia-compliant ETF tracking the S&P 500 Sharia index. As a competing halal ETF product in the US, it is directly comparable to Manzil's MNZL ETF and competes for the same halal-investor wallet.

Broad incumbents

• Saturna Capital (Amana Mutual Funds): Saturna Capital manages the Amana family of mutual funds, one of the longest-standing Shariah-compliant investment product lines in the US. It is a broader incumbent in halal investing with multiple mutual fund products competing for the same Muslim investor segment.
• Wealthsimple: Canadian-headquartered digital wealth platform with managed portfolios, self-directed trading, and retirement accounts. While not exclusively halal, it offers a halal portfolio option and competes with Manzil's Canadian operations in the same geography and product categories.

Emerging players

• ShariaPortfolio: ShariaPortfolio is a US-based registered investment adviser building automated halal portfolios and Shariah-screened strategies. It directly overlaps with Manzil's managed-portfolio and Shariah-verification positioning in the US RIA market.
• Zoya Finance: Zoya provides Shariah-compliance screening for self-directed investors via app and browser, letting users evaluate US stocks and ETFs against Islamic finance criteria. It is an emerging player in the halal investing stack that partially overlaps with Manzil's Shariah compliance and trading product.
• Islamicly: Islamicly is a Shariah stock-screening app for retail investors, primarily in the Middle East and South Asia. It is an emerging adjacent player addressing the same Shariah-compliance discovery use case that underpins Manzil's curated halal portfolios.
• Musharaka Capital: Musharaka Capital is a US-based Shariah-compliant investment platform offering managed portfolios and real-estate-backed halal investment products. It is an emerging player with a similar values-based positioning to Manzil, targeting Muslim US investors.

Others

• Alpaca Securities: Alpaca is the broker-dealer and API-driven trading infrastructure partner powering Manzil's execution layer. While not a direct competitor, it is the most operationally important counterparty in Manzil's stack and is relevant as a comparable infrastructure play serving similar halal and values-based platforms.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights5 records

Customer concentration

• YouTubeyoutube.com/@getmanzil
• Facebookfacebook.com/manzilinc
• LinkedInlinkedin.com/company/getmanzil
• Instagraminstagram.com/manzil.ca
• Xx.com/aghazinvest

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds2 records

Investors1 record

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 Aghaz Investments