Salaam Gateway, in collaboration with DinarStandard, has unveiled the first-ever Top 30 Digital Islamic Economy Startups list. This initiative celebrates digital startups that focus on Islamic or halal lifestyles in sectors such as fintech, media, travel, and fashion.
What makes this list noteworthy? Not only is it a benchmark for growth, but it also highlights the innovation of startups that cater to consumers in values-based Islamic markets. Notably, 4 Southeast Asian startups made it into the top 10, garnering significant attention.
Hijra Islami (Indonesia)
Ranked sixth on the list, Hijra Islami is a pioneer in transforming Shariah-based financial services. Launched in 2017 as a sharia finance aggregator, the company evolved into a P2P platform in 2019 and a digital bank by 2023.
As of the end of 2023, Hijra has facilitated more than $350 million in financing for SMEs in Indonesia, supported by more than 350,000 users. With recent funding from investors such as Intudo Ventures and East Ventures, Hijra is now focused on expanding its services, including Sharia-compliant home financing.
Evermos (Indonesia)
Securing 7th place, Evermos is a social commerce platform that connects local halal brands with over 900,000 merchants, 80% of whom are women.
In addition to providing business and Shariah finance training, Evermos raised $39 million in Series C funding in May 2023. The platform is targeting an IPO by 2026 and is strengthening its position in the market by offering more than 65,000 local products.
Kitabisa (Indonesia)
Kitabisa is Indonesia's largest social crowdfunding platform, connecting donors to support various social causes, both local and international. Since its inception in 2013, the platform has engaged over 10 million donors and facilitated one million campaigns, offering services such as zakat, infaq, sadaqah, and takaful.
In 2023, Kitabisa secured $20 million in investment to drive growth, including the expansion of its sharia insurance product, SalingJaga. Last year, the platform also raised $36.6 million for various social programs.
Bitsmedia (Singapore)
Bitsmedia, the developer of the Muslim Pro app—downloaded over 150 million times—ranks ninth on the list. Headquartered in Singapore, the company launched its streaming service, Qalbox, in 2022. By the end of 2023, Bitsmedia raised $20 million in Series A funding to enhance its AI capabilities, educational features, and Muslim lifestyle applications.
