insha secured €2.5 million in a seed round led by Param
insha, a Berlin, Germany and Istanbul, Turkey-based developer of a mobile banking service, announced securing a €2.5 million ($3M) seed investment round.
The money was raised from strategic investor Param, which is a Turkish financial technology company that provides prepaid cards, online payment system, credit and other fintech operational solutions.
insha, founded in 2018 by Albaraka Türk, Turkey's first participation bank, began as an Islamic banking service but is broadening its brand to appeal to all kinds of conscious consumers, is developing uncommon investment options, too. Users will be able to invest in ethical business ideas together with insha, sharing profits and losses.
Insha is regulated by EU authorities and currently available in Germany, with roughly 40,000 customers.