Musharaka Capital

What Musharaka Capital does

Musharaka Capital (مشاركة المالية) is a Saudi Arabia-based, CMA-licensed asset management and investment banking company founded in 2013 and operating since May 2014 under Capital Market Authority license 27-13169, which authorizes dealing, investment management, fund operations, arrangement, advisory, and custody. Headquartered in Al Khobar with a regional office in Riyadh, the firm serves three primary customer segments: (1) individual retail investors seeking Sharia-compliant brokerage and fund products; (2) corporate clients needing IPO management, sukuk issuance, rights issues, custody, and investment banking services; and (3) fintech platforms and investment funds requiring licensed custody infrastructure. Its paid-up capital stands at SAR 65 million.

The firm operates an integrated platform spanning six core product lines: Brokerage (local Tadawul trading and access to 30+ international markets via the Musharaka Global platform), Real Estate Investment Funds (a multi-vehicle franchise including the listed Musharaka REIT at SAR 1.44 billion AUM as of December 2025 and the newly launched Al Haram View Fund targeting SAR ~1.5 billion in Makkah mixed-use development), Securities Management, IPO Management (main market and Nomu parallel market plus sukuk dealing), Custody Services (including sub-custody, omnibus accounts, and fintech-embedded custody), and Investment Banking (M&A arrangement and advisory). Customer-facing technology is delivered through two proprietary mobile applications (Musharaka App and Musharaka Global App) and a web trading platform (app.musharaka.sa), providing single sign-on access to local and global markets with Sharia-compliant product filtering throughout.

Revenue is generated through five streams: brokerage commissions on local and international trades (transaction fees), management and performance fees on real estate investment funds (recurring subscription/management), IPO/sukuk dealer and underwriter fees (transaction fees), custody fees from funds, portfolios, and fintech platforms (managed services), and Islamic murabaha margin financing (recurring). Distribution is hybrid: a self-serve PLG motion for retail and corporate onboarding via the apps and website, combined with a direct enterprise sales motion for IPO, sukuk, custody, and IB mandates. The firm has executed high-profile mandates including a 679% coverage ratio IPO for Adir Real Estate on Nomu, a 150.4% coverage IPO for Jnee Medical, and sukuk dealer roles for Biday a Finance (SAR 1 billion program), Raya Financing (SAR 300 million), and Intelligent Oud Company (SAR 50 million).

Name

Musharaka Capital

Legal name

Musharaka Capital (مشاركة المالية)

Website

https://musharaka.sa

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Musharaka Capital is a CMA-licensed Saudi asset management and investment banking firm offering Sharia-compliant brokerage (local and 30+ global markets), real estate investment funds, IPO and sukuk management, custody, and investment banking services to retail investors, corporate issuers, and fintech platforms.

Ownership category

akta.pro rank

Product category

Investment Banking and Asset Management

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239), Open-End Investment Funds (525910), Trust, Fiduciary, and Custody Activities (523991), Open-End Investment Funds (52591)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Asset-Backed Securities (6189), Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Islamic Investment Banking & Capital Markets Services (FSABAGAG)

akta.pro secondary industries

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Sukuk Origination & Structuring (Bank-led) (FSABAGAL), Islamic Private Banking & Wealth (FSABAGAD), Islamic Corporate Banking (FSABAGAC)

Keywords

• Asset management services
• Investment banking
• Securities brokerage
• Real estate funds
• Custody services

Headquarters

HQ city

Al Khobar

HQ country

Saudi Arabia

HQ region

Middle East

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Brokerage Services: Commission-based trading services for local Saudi stocks and international markets across 30+ exchanges. Includes local brokerage, global brokerage, and institutional brokerage services.
2. Real Estate Investment Funds: Management fees from operating multiple real estate investment funds including Musharaka REIT (1.44 billion AUM as of December 2025), Al Haram View Fund (1.5 billion expected investment), and other specialized real estate funds.
3. IPO and Sukuk Management: Dealer role in sukuk issuances and IPO management services, acting as underwriter and placement agent for companies seeking capital market access.
4. Custody Services: Custody fees for investment funds, private portfolios, and as sub-custodian for fintech platforms. Services include bondholder representation and sukuk payment management.
5. Margin Financing: Islamic-compliant murabaha financing solutions enabling investors to enhance purchasing power of their portfolios.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Musharaka Capital is a Saudi-based licensed financial services firm offering brokerage (local and global), real estate investment funds, securities/portfolio management, IPO and sukuk issuance management, custody services, and investment banking advisory. The firm operates across Sharia-compliant investment products through dedicated trading platforms and serves both individual and institutional clients. Revenue is generated through transaction commissions, fund management fees, custody fees, and advisory/arrangement fees.

Product overview

Musharaka Capital is a Saudi-based asset management and investment banking company operating under Capital Market Authority license (27-13169). The company offers an integrated financial services platform comprising six core product lines: Brokerage Services (local and global trading across 30+ international markets plus institutional brokerage and Sharia-compliant murabaha financing), Real Estate Investment Funds (including 14 active and liquidated funds with sizes ranging from 111.7 thousand to 1.56 billion SAR across REIT, development, and specialized property categories), Securities Management (private and public investment funds plus private portfolio management), IPO Management (primary and parallel market listings, rights issues, and sukuk/bond dealing), Custody Services (comprehensive custody including sub-custody, omnibus accounts, and fintech custody solutions), and Investment Banking (arrangement and advisory for M&A, capital raising, and project financing). The platform is accessible via dedicated mobile applications for local and global trading.

Differentiator

Problem solved

Functional benefit

Brands

• Musharaka App: Mobile trading application for local Saudi stocks.
• Musharaka Global

Products and services

• Brokerage Services Full-service brokerage platform offering local Saudi market trading (Tadawul), access to 30+ international markets, institutional brokerage solutions, and Sharia-compliant murabaha financing and margin trading.
• Real Estate Investment Funds Diversified range of Sharia-compliant real estate investment funds including REIT, development, residential, office, and specialized property funds with varying target returns across Saudi Arabia.
• Securities Management Investment management services providing private investment funds, private portfolio management, and public investment funds across stocks and fixed-income products.
• IPO Management Qualified team managing IPO operations in Saudi financial markets including the main market (Tadawul) and parallel market (Nomu), rights issue subscriptions, and serving as dealer in the sukuk and bonds market.
• Custody Services Comprehensive custody solutions including investment fund custody, private equity fund custody, portfolio custody, securities custody in local/Gulf/international markets, sub-custody services, omnibus accounts, bondholder representation, and sukuk payment management.
• Investment Banking Combines global experience and local expertise to provide project and corporate financing, financial market advisory, capital raising strategies, M&A transaction facilitation, and joint venture advisory.

Quantifiable outcome

• 679% coverage ratio achieved for Adir Real Estate IPO on Nomu market
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• Masat Insurance Brokerage (مسارات لوساطة التأمين)minorStrategic or Co-development Partner · 21 January 2026Collaboration on blood donation campaign organized jointly at Radin Commercial Center. Partnership reflects the company's commitment to community service initiatives.
• King Faisal Specialist Hospital and Research Center (مستشفى الملك فيصل التخصصي ومركز الأبحاث)minorStrategic or Co-development Partner · 21 January 2026Healthcare partner for blood donation campaign, providing medical support and facilities for the community initiative organized by Musharaka Capital.
• Ihyaa Real Estate (إحياء العقارية)coreStrategic or Co-development Partner · 23 November 2025Strategic partnership signed November 2025 to support and develop sustainable real estate projects that enhance investment activity in the real estate sector. The partnership aims to expand financing and investment solutions and contribute to supporting innovative real estate ventures.
• Walaa Plus (ولاء بلس)minorGTM or Marketing Partner · 22 August 2025Strategic partnership agreement signed August 2025 at Walaa Plus lounge to provide exclusive offers enabling customers to benefit from special advantages through the Walaa Plus platform. Partnership aims to enhance value provided to customers and provide additional benefits to develop their investment experience.
• Thughrah Association (جمعية ذوق)minorStrategic or Co-development Partner · 31 December 2024Strategic sponsorship agreement signed December 2024 as main supporter, attended by Prince Saud bin Naif bin Abdulaziz Al Saud - Eastern Region Emir and Honorary President of the Association, and Mr. Ibrahim Al-Assaf - Managing Director and CEO of Musharaka Capital.
• Jabal Omar Development Company (شركة جبل عمر للتطوير)coreStrategic or Co-development Partner · 13 November 2024Partnership agreement signed November 2024 for Musharaka to acquire land in Phase 5 of Jabal Omar project in Makkah. This aligns with the company's real estate fund development strategy.
• Ladin Investment (لدن للاستثمار)coreStrategic or Co-development Partner · 13 November 2024Partnership agreement signed November 2024 to establish a real estate development fund. The fund aims to acquire land with an area of 3,881 square meters for development purposes.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• SEDCO Capital: Saudi Arabia-based Shariah-compliant asset manager and investment advisor. Closely comparable to Musharaka given parallel focus on Islamic-compliant funds, real estate investments, and private placements for institutional and HNW clients in Saudi Arabia.
• Derayah Financial: Saudi CMA-licensed investment management firm offering discretionary portfolio management, mutual funds, and real estate funds under a Shariah-compliant framework. Directly comparable to Musharaka's securities management and real estate fund product set.
• Alkhabeer Capital: Jeddah-based Shariah-compliant investment manager with private equity, real estate, and structured products funds. Similar mid-sized Saudi asset manager operating under CMA oversight with comparable Islamic finance positioning.
• Jadwa Investment: Saudi Arabia-based investment bank and asset manager offering brokerage, asset management, and investment banking services. Comparable in size and product scope to Musharaka, particularly in Saudi equity research and IB advisory.
• Falcom Financial Services: Saudi CMA-licensed firm providing brokerage, asset management, and investment banking. Comparable Shariah-compliant product set and similar mid-market positioning relative to Musharaka.
• Arbah Capital: Saudi-based investment management and advisory firm. Comparable scope across asset management and capital markets services, particularly for institutional and family office clients in the Kingdom.
• Alistithmar Capital: Saudi CMA-licensed financial services firm providing brokerage, asset management, and corporate finance. Mid-sized peer with overlapping brokerage and Shariah-compliant product focus.

Broad incumbents

• SNB Capital: One of the largest Saudi investment banks and asset managers (formerly NCB Capital). Overlaps with Musharaka across brokerage, asset management, IPO/sukuk, and custody, but operates at materially larger scale and balance sheet.
• Riyad Capital: Investment banking and asset management arm of Riyad Bank, one of Saudi Arabia's largest financial institutions. Competes with Musharaka in brokerage, IPO underwriting, REITs, and custody but with deeper institutional reach.
• Al Rajhi Capital: Investment arm of Al Rajhi Banking Group, providing brokerage, asset management, and investment banking. A dominant Saudi incumbent with overlapping Shariah-compliant product offerings and broader distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/musharaka_sa
• YouTubeyoutube.com/@Musharaka_SA
• Facebookfacebook.com/MusharakaSa
• LinkedInlinkedin.com/company/musharaka-capital
• Instagraminstagram.com/musharaka_sa

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

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 Musharaka Capital