Faith, Finance, Technology w/ Fara Abdullah, Bitsmedia

Billion Dollar Moves™ with Sarah Chen-Spellings | Global Venture Capital

Muslims are projected to constitute more than 25% of the world's total population this year. To many in the industry, this isn't just a statistic; it represents a vast array of opportunities for the markets.

This week, we had the pleasure of speaking with Fara Abdullah, CEO of Bitsmedia, the brains behind the immensely popular Muslim lifestyle app, Muslim Pro.

With a fresh injection of $20 million from its recent Series A funding round, featuring participation from Gobi Partners, alongside continued backing from existing investors CMI Capital Partners and Bintang Capital Partners, Bitsmedia is poised to enhance the faith experience through cutting-edge technologies.

Our discussion today delves into various aspects, including the business landscape, the potential in faith-driven markets, and the interception of faith, finance, and technology.

TIMESTAMPS / KEY TAKEAWAYS

0:00 - Intro

02:52 - Market opportunities in the Muslim community; Bitsmedia’s business model

07:39 - Challenging the misconceptions and templatization of Muslims

10:49 - Thesis behind the 160 million annual downloads of Muslim Pro: faith in challenging times and the modern Muslim lifestyle

15:13 - Bitsmedia’s ideal consumer profile and the growth of user base

20:30 - Business models and the biggest revenue drive for Bitsmedia

24:11 - Decision making and resource distribution as the CEO

26:52 - The role of technology in shaping faith and vice versa

30:31 - The idea of moderation and ethical interpretations with use of technologies

32:41 - Bitsmedia’s role in the interception of faith, finance and technology

34:35 - Observed trends of religious behaviors and attitudes; the socialization of faith

37:01 - Fundraising and choosing the right partners

39:46 - Billion dollar questions

ABOUT BITSMEDIA

Bitsmedia is a Singapore-based, technology company known globally as the developer and publisher of the Muslim Pro app – a highly-rated and comprehensive Muslim lifestyle app with more than 150 million downloads globally to date.

The company is also the publisher of Qalbox, a global subscription video on demand (SVoD) entertainment streaming service aimed at the global Muslim community.

About Muslim Pro

Muslim Pro's journey started with its inception as a utility app dedicated to fulfilling the daily spiritual and practical needs of Muslims worldwide. Under Fara's guidance, Muslim Pro has undergone a significant transformation, evolving from its original utility focus to become a pioneering platform catering to the diverse facets of the Muslim community.

Fara's strategic foresight has been vital to transitioning Muslim Pro into a holistic ecosystem for Muslims. Beyond spiritual and religious guidance, the platform now encompasses educational resources, AI-driven tools, and robust partnerships with key enablers, brands, and organizations within the Muslim sector.

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