The world’s first Halal DeFi ecosystem MRHB DeFi receives strategic investment from NewTribe Capital


MELBOURNE, Australia, September 29, 2021 (GLOBE NEWSWIRE) – The world’s first halal decentralized finance (DeFi) ecosystem MRHB Challenge received a strategic investment from NewTribe Capital, a private venture capital group.

This is the seventh institutional investment in the startup of the DeFi ecosystem, after the strategic investments of the DeFi Mutual Fund Hookah finance, Dubai-based innovation angel investors Acreditus Partners and EMGS Group, the French systems integration company present in the Middle East since 2003, to name but a few.

NewTribe Capital: a bold investment approach

With an ideology of ‘investing in people’, NewTribe Capital takes a bold stance in its approach to investing – they only support projects that they believe add value to the blockchain ecosystem.

“Our philosophy is successful because we invest in relationships, not transactions,” says Dhaval Parikh, partner at NewTribe Capital. “Transactions are just transactions. We build exceptional relationships with companies that last, collaborating on projects with conviction.

Investment in the first ethical, inclusive and faith-based MRHB DeFi ecosystem platform aligns with corporate ethics and NewTribe’s strategic goals. As a premier investor and supporter, NewTribe recognizes both the vision and long-term market potential of the faith-based pioneer DeFi.

In addition to the investment funds, which will support the continued technological development and growth of MRHB DeFi, NewTribe Capital will also offer network and cross-marketing support for the DeFi startup.

“We are delighted to collaborate with the high performing team at NewTribe Capital who share our long term visions for ethical DeFi. This relationship creates additional opportunities and industrial connections that will generate more value for members of our community. NewTribe has a proven track record of helping its partners succeed, and we are delighted to welcome them among other strategic stakeholders on our ambitious journey, ”says Naquib Mohammed, founder and CEO of MRHB DeFi.

“This strategic alliance with NewTribe Capital is the latest institutional initiative of MRHB DeFi as we strive to establish ourselves as the dominant player in the space of ethical decentralized finance,” adds Mohammed.

DeFi made accessible to ethical and faith communities

MRHB DeFi’s vision of an inclusive and halal crypto-verse is underpinned by the principles of Islamic ethical finance, but is suitable for anyone looking for a socially conscious blockchain that avoids interest, usury, exploitation and d ‘other business practices deemed unethical.

Being Shariah Compliant means that MRHB DeFi can apply a vast body of knowledge and literature on Islamic finance to ensure higher ethical and moral standards that are generally observed in the DeFi space. These principles ensure that all business decisions are made in a fair and equitable manner and thus create an inclusive and simple crypto ‘safe space’ for faith-based, unbanked and currently excluded communities.

Global portfolio and partnerships

Crypto-minded investors who believe in the evolution of current capital market systems towards more decentralized and accessible models, NewTribe Capital has a portfolio of over 70 investments with an average return on investment of 4.2x and over $ 20 million in assets under management. Portfolio investments include Launchpool, Casper Labs, Fractal, to name a few.

Offering advice, resources, legal and technical support, NewTribe also has a network of VC partners, media partners and global influencers. VC partners include Alphabit, A195 Capital, Draper Dragon and more.

About MRHB DeFi

MRHB DeFi is a halal and decentralized financial platform designed to embody the true spirit of an “ethical and inclusive DeFi” by following faith-based financial and business principles, where all excluded communities can benefit from the full potential of empowerment of DeFi.

Based on blockchain principles such as trust, transparency, and security, MRHB DeFi has encapsulated universally applicable Sharia principles into these blockchain principles to deliver a suite of offerings. It is a comprehensive DeFi ecosystem whose crypto products, protocols and assets are primarily governed by the ethical, inclusive, sustainable and charitable investment principles associated with the Islamic faith or “Islamic finance” (“IF” as it is commonly called).

The diverse team is made up of researchers, technocrats, influencers, Islamic FinTech experts and entrepreneurs, who have come together to ensure that MRHB DeFi prevails in a way that will impact the society as a whole, essentially bridging the gap between faith-conscious communities and the blockchain world.

Learn more about the MRHB DeFi, Lite and White Paper Sharia Concept Paper here.

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