Mahaana
Mahaana is Pakistan's first SECP-licensed digital wealth manager offering Shariah-compliant, mobile-first investment products — including a daily-return money market fund (Save+), a PSX-listed Islamic ETF, and a digital retirement/pension scheme — to Pakistani retail investors, salaried taxpayers, and overseas Pakistanis via the Roshan Digital Account.
- Company typePrivate
- Founded2022
- HeadquartersIslamabad, Pakistan
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Mahaana does
Mahaana Wealth Limited is a Pakistani SECP-licensed digital wealth manager and Non-Banking Finance Company (NBFC), operating since its August 2022 launch as the country's first licensed digital asset management company. It serves Pakistani retail investors seeking Shariah-compliant, low-minimum, digitally-accessible investment products, plus salaried taxpayers seeking tax-advantaged retirement solutions and overseas Pakistanis reachable via the State Bank's Roshan Digital Account.
The company operates a unified digital platform spanning a web portal (portal.mahaana.com) and cross-platform mobile app, deployed on Microsoft Azure with a C#.NET/.NET Core backend, Blazor web framework, and React Native mobile layer. Its product architecture layers a Shariah-compliant money market mutual fund (MICF) powering the flagship daily-return Save+ product; the MIIETF equity ETF listed on the Pakistan Stock Exchange tracking the top 30 Shariah-compliant companies; and the MIIRF Voluntary Pension Scheme co-developed with IGI Life Insurance offering up to 20% income-tax credit and Takaful coverage. An additional "Mahaana Invest" module is queued for release. Underlying capabilities include a robo-advisor recommendation engine, automated portfolio rebalancing, CDC-integrated custody with RAAST-linked bank accounts, RAAST payment-rail integration, and integrated AML/fraud monitoring.
Mahaana earns revenue through management fees on AUM across its three product vehicles, verification and processing fees varying by account category, VPS management fees from MIIRF (including a revenue share on Takaful), and B2B corporate partnership revenue targeting PKR 500,000+ annual contracts. Go-to-market combines direct-to-consumer self-serve onboarding (under 10 minutes, PKR 1,000 minimum) with a B2B sales motion for VPS-as-employee-benefit at Pakistani corporates and PSX broker-channel distribution for ETF purchases. The company is backed by Vostok Emerging Finance, SparkLabs Group, IGI Holdings, and Y Combinator, with reported traction of 10K+ users on its flagship Save+ product.
Mahaana firmographics
Firmographics- Name
- Mahaana
- Legal name
- Mahaana Wealth Limited
- Website
- https://mahaana.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Mahaana is Pakistan's first SECP-licensed digital wealth manager offering Shariah-compliant, mobile-first investment products — including a daily-return money market fund (Save+), a PSX-listed Islamic ETF, and a digital retirement/pension scheme — to Pakistani retail investors, salaried taxpayers, and overseas Pakistanis via the Roshan Digital Account.
- Ownership category
- akta.pro rank
Mahaana industry classification
Industry- Product category
- Digital Wealth Management
- NAICS
- Portfolio Management and Investment Advice (52394), Open-End Investment Funds (525910)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Digital/Hybrid Robo-Wealth & Retirement Advisory (FSAEABAK)
- akta.pro secondary industries
- Retirement & Pension Wealth (401(k)/IRA/SIPP/Superannuation Retail) (FSAAAAAJ), Full-Service Retail Brokerage & Wealth Platforms (FSAAAAAA)
Keywords
Where Mahaana is headquartered
LocationHeadquarters
- HQ city
- Islamabad
- HQ country
- Pakistan
- HQ region
- Asia
Offices1 record
Markets served
Mahaana business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Management fee on AUM: Mahaana charges a management fee on customer holdings, deducted from the returns generated across Save+ (MICF), MIIETF, and MIIRF products. Recurring, AUM-linked revenue.
- Verification and processing fees: Account verification and transaction processing fees charged depending on customer account category. Variable by tier.
- Voluntary Pension Fund (VPS) management: Investment management fees from the Mahaana IGI Islamic Retirement Fund (MIIRF), a Shari'ah-compliant pension plan with IGI Life; includes Takaful coverage revenue share.
- B2B partnership revenue sharing: Corporate partnership revenue through employee benefit programs, targeting average contract value of PKR 500,000+ annual revenue per partnership.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Save+ / MICF — minimum PKR 1,000 initial deposit |
| Other | Pay-as-you-go | MIIRF (Retirement) — contribution-based, tax-credit pricing |
| Transaction based/ take rate | Pay-as-you-go | MIIETF — purchased via PSX broker at market price |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels8 records
Mahaana product offering
Product offeringCore offering
Mahaana operates Pakistan's first SECP-licensed digital wealth management platform, offering a 100% Shariah-compliant suite of investment products to retail investors. Core offerings include Mahaana Save+ (a daily-return money market product backed by MICF), the MIIETF equity ETF listed on the Pakistan Stock Exchange, and the MIIRF Voluntary Pension Scheme co-developed with IGI Life Insurance, all delivered through a mobile/web platform with automated onboarding, robo-advisor portfolio management, and CDC-segregated custody.
Product overview
Mahaana operates as a unified, end-to-end digital wealth-management platform rather than a single monolithic product. Its core architecture layers (i) a Shariah-compliant mutual-fund vehicle — MICF (Mahaana Islamic Cash Fund), which powers the flagship daily-return Mahaana Save+ product — with (ii) equity-market exposure through MIIETF (Mahaana Islamic Index Exchange Traded Fund) listed on the Pakistan Stock Exchange, and (iii) a retirement/pension offering, MIIRF (Mahaana Islamic IGI Retirement Fund), co-developed with IGI Life Insurance and operated as a Voluntary Pension Scheme. The announced-but-not-yet-launched Mahaana Invest product is positioned as a future module on the same platform. All modules are delivered through the Mahaana web portal and the Mahaana Mobile App, share a single onboarding and KYC flow, sit on CDC custody with SECP regulatory oversight, and are supported by an Investment Calculator and bookable human investment-advisory sessions as part of the broader service.
Differentiator
Problem solved
Functional benefit
Brands
- Mahaana Save+: Low-risk Shariah-compliant daily-return savings product backed by the Mahaana Islamic Cash Fund (MICF).
- Mahaana Retirement
- Mahaana Islamic Cash Fund (MICF)
- Mahaana Islamic Index ETF (MIIETF)
- Mahaana Islamic IGI Retirement Fund (MIIRF)
Products and services
- Mahaana Save+ (MICF) Shariah-compliant daily-return digital savings product backed by the Mahaana Islamic Cash Fund (MICF). Customers earn daily, automated returns that compound in the account, with the ability to deposit and withdraw at any time (1-2 business day settlement). Minimum investment PKR 1,000. For Pakistani retail investors and overseas Pakistanis (RDA) seeking higher, transparent, Shariah-compliant returns than bank savings.
- Mahaana Retirement (MIIRF — Mahaana Islamic IGI Retirement Fund) Shariah-compliant Voluntary Pension Scheme co-developed with IGI Life Insurance. Offers up to a 20% income-tax credit to salaried Pakistani tax filers, Takaful (life and emergency medical) coverage, and CDC-custodied fund management across three sub-funds (money market, debt, equity). For salaried Pakistani tax filers and corporates offering VPS-as-employee-benefit.
- MIIETF (Mahaana Islamic Index Exchange Traded Fund) Pakistan's first broader-index Islamic ETF listed on the Pakistan Stock Exchange, tracking the top 30 Shariah-compliant companies across Oil & Gas, Fertilizer, Cement, Power, and Commercial Banks. Provides diversified equity exposure with lower expense ratios and real-time pricing transparency. Purchased via PSX broker at market price. For retail investors (including RDA overseas Pakistanis) seeking diversified Shariah-compliant Pakistani equity exposure.
- MICF (Mahaana Islamic Cash Fund) Underlying Shariah-compliant money market mutual fund that powers the Mahaana Save+ product. Invests in low-risk Shariah-compliant instruments including corporate sukuks, government sukuks, and bank placements. Mahaana is a MUFAP member and SECP-regulated NBFC; assets are custodied with CDC. PACRA assigned an Initial Stability Rating of AA+f. For retail investors seeking a transparent, Shariah-compliant money market vehicle.
- Mahaana Mobile App Companion iOS/Android app to the Mahaana web portal providing fully digital onboarding, Auto Invest scheduling, daily profit updates, smart portfolio rebalancing, and 100% Shariah-compliant investing. Bank-grade encryption with CDC custody and SECP regulation. For Pakistani retail investors and overseas Pakistanis.
- Investment Advisory Sessions Bookable 1-on-1 financial-advisory sessions with a Mahaana expert, scheduled through an integrated Microsoft Outlook calendar booking flow ([email protected]). For retail investors wanting personalized financial planning alongside self-serve platform use.
Quantifiable outcome
- Up to 20% tax savings on income tax via MIIRF contributions
- +4 more outcomes
Companies that use Mahaana
Customer profileNamed customers2 records
Ideal customer profiles3 records
Mahaana technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
AI capability7 records
Feature3 records
Mahaana partnerships and signals
Strategic signalScale indicators6 records
Recent moves6 records
Expansion highlights6 records
Mahaana competitors and assessment
Company assessmentDirect peers
- Wahed Invest: Global digital wealth manager focused on Shariah-compliant investing across equities, sukuk, and ETFs. Wahed is the closest global analog to Mahaana given the shared Islamic-finance positioning, digital-first onboarding, and ETF-led product strategy.
- Sarwa: UAE-based digital wealth and robo-advisory platform offering diversified portfolios, ETFs, and retirement planning. Sarwa is highly comparable as an emerging-market digital wealth platform targeting mass-affluent retail and salaried users.
- Al Meezan Investments: Pakistan's largest Shariah-compliant asset management company with a broad mutual fund family. Al Meezan is the direct incumbent Mahaana is digitizing against, sharing the Islamic-only mandate and serving overlapping retail and institutional segments.
- JS Investments: One of Pakistan's largest asset managers offering mutual funds, managed portfolios, and pensions. JS is a direct domestic competitor in the AMC space Mahaana occupies, and represents the kind of incumbent Mahaana must win share from.
- MCB-Arif Habib Savings & Investments: Large Pakistani AMC operating mutual funds, investment advisory, and pension schemes. MCB-AH is a relevant domestic peer given overlapping product categories (mutual funds, VPS) and a distribution advantage via MCB Bank.
- HBL Asset Management: Asset management arm of Habib Bank Limited offering mutual funds, Shariah-compliant funds, and VPS. HBL AMC is a direct domestic comparable given its bank-distribution scale, Islamic product line, and growing digital onboarding.
- Stash: US-based digital wealth and self-directed investing platform targeting mass-affluent retail with low minimums, automated investing, and educational content. Stash is a close model comparable on the digital onboarding, low-minimum, and consumer-education mechanics.
- Acorns: US micro-investing and savings platform that popularized low-ticket automated investing for retail users. Acorns is a relevant behavioral and product-model peer for Mahaana's low-minimum, automated, mobile-first savings motion.
Broad incumbents
- Wealthfront: Large US robo-advisor offering automated portfolio management, financial planning, and cash management. Wealthfront is a broad incumbent in the digital wealth space, comparable in product mechanics (robo-rebalancing, automated investing) though not in geography or Shariah focus.
- Tundra Fonder: Sweden-based emerging/frontier markets fund manager whose founder (Mattias Martinsson) is an advisor and investor in Mahaana. Tundra is a relevant comparable given its emerging-market mandate and explicit role in introducing the Swedish pension/savings model referenced in Mahaana's funding story.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Mahaana social profiles
Digital presenceMahaana compliance and trust
Trust signalCompliance8 records
Mahaana financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mahaana leadership team
Management profileNumber of profiles
Profiles7 records
Mahaana subsidiaries and ownership
Company hierarchySubsidiaries3 records
Mahaana funding detail
Funding detailFunding overview
Funding rounds1 record
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mahaana 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 Mahaana
What does Mahaana do?
Mahaana operates Pakistan's first SECP-licensed digital wealth management platform, offering a 100% Shariah-compliant suite of investment products to retail investors. Core offerings include Mahaana Save+ (a daily-return money market product backed by MICF), the MIIETF equity ETF listed on the Pakistan Stock Exchange, and the MIIRF Voluntary Pension Scheme co-developed with IGI Life Insurance, all delivered through a mobile/web platform with automated onboarding, robo-advisor portfolio management, and CDC-segregated custody.
Is Mahaana a public or private company?
Mahaana is a private company. It is classified as venture growth investor backed and is currently operating.
When was Mahaana founded?
Mahaana was founded in 2022. It employs 11 to 50 people.
Where is Mahaana based?
Mahaana is headquartered in Islamabad, Pakistan, in the Asia region.
How does Mahaana make money?
Four revenue lines are on record. Management fee on AUM is the primary driver. The others are verification and processing fees, voluntary Pension Fund (VPS) management and B2B partnership revenue sharing.
Who are Mahaana's main competitors?
Direct peers on record are Wahed Invest, Sarwa, Al Meezan Investments, JS Investments, MCB-Arif Habib Savings & Investments, HBL Asset Management, Stash and Acorns. Broad incumbents are Wealthfront and Tundra Fonder.
Does Mahaana have an API?
No public API is recorded for Mahaana.
What industry is Mahaana in?
Mahaana's product category is Digital Wealth Management. Its primary akta.pro industry code is FSAEABAK, Digital/Hybrid Robo-Wealth & Retirement Advisory, with a secondary code of FSAAAAAJ, Retirement & Pension Wealth (401(k)/IRA/SIPP/Superannuation Retail). Its NAICS code is 52394 and its SIC code is 6282.