Amal Invest's Pivot to Open Source

General
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I’ll cut to the chase — big changes are coming to Amal Invest. You’ve been with us on this journey, and it’s only right you hear this straight from the source.

Amal Invest, as you know it, is winding down. We’ve hit that pivotal moment many startups face: pivot or persevere. We’re choosing to pivot. But we’re not just shutting down; we’re flipping the script.

We’re open-sourcing the entire Fund Purifier code. It’s yours, the community’s, anyone’s who wants to tinker with it. And because we respect the trust you’ve placed in us, we’re also keeping the lights on for the hosted service you currently use. This buys you time to decide your next move without any nasty surprises.

What this boils down to:

  • Open Source Code: It’s in your hands now. Customize it, break it, rebuild it—make it what you need.
  • Community Driven: Got ideas? Now you can add them. The project’s future is community-led, and your voice has weight.
  • Our Hosted Service stays on while we’ve got the runway. No rug-pulls here.

Access the Github repo here: GitHub - fundpurifier/app

This isn’t the post I wanted to write, but it’s the honest one. Startups are unpredictable. We’re proud of what we built, even if it’s time to move on.

Here are answers to some questions I anticipate you’ll have:

Q) What happens to my subscription? A) As of today, the Fund Purifier is going to be 100% FREE and available to all users. You’ll have full access to it, including the ability to filter any fund. If you subscribed to the yearly plan anytime in the last 30 days, email me. I’m happy to refund you in full.

Q) Will my current service be interrupted? A) The latest web version of Amal Invest will continue to be available at ​https://app.fundpurifier.com​. If you previously accessed Amal Invest through the mobile app, you’ll no longer be able to. Instead, you can access your account through the new website.

Q) Will I still be able to see my prior investments? Can I invest in new funds? A) Your previous investments will appear in the new app as “Migrated Positions.” These will be static positions though, and won’t track any funds. We suggest selling these positions and using the proceeds to invest in any new filtered funds you are interested in.

Q) What happens to my data and privacy with the code going open-source? A) Your data security and privacy remain paramount. Open sourcing the code does not include your data or any sensitive information. The open-source code will be the tool’s framework without any user data.

Q) How long will the service remain available? A) We’ll continue to keep the hosted service running at least until the data contracts we maintain expire in ~9 months, and possibly beyond that.

Hit reply if you have any questions, and I’ll be happy to respond.

Thanks for riding along,

Yazin Alirhayim
Founder,
Amal Invest

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I’m very saddened to hear this news :pensive:

Amal was a work of genius! It was truly a valuable idea that worth the efforts.

I hope this will still be alive in some ways, because it was built for the good and should continue to be.

I would like to thank you, Yazin, and everyone who was behind this great project, and hope to you the best in the future, because you deserve the best.

Lastly, what will happen to the service on (https://app.fundpurifier.com/) after the estimated ~9 months? Will it be shutdown for good?

And any suggestions to the simple end-user that wants to continue using the service but doesn’t know anything about coding and deploying the service?

Again, I’m truly sorry for this sad news and hope you for the better :pray:t3:

1 Like
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Assalamu-Alaikum

I agree with Hussain. Really sad to hear the news! There was recently news of a new full-time employee, so I thought things were looking good. I was really happy to have found Amal and was able to do halal investing without stress. I hope it continues to thrive, insha’Allaah! Thank you Yazin for creating this product!

I would also like to know how to self-host it so my halal investing can continue. (edit: saw the GitHub repo which says it’s 20k/yr for 3rd-party services. Wow!) Is there no way to reduce that or an alternative for personal use?

I really hope Amal stays around and builds into something bigger!

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Appreciate your kind words, and the support you’ve shown throughout Hussain :pray:

We’ll try out best to keep the hosted version running – but can’t make any promises. The project will remain open-sourced and I hope that we’ll get enough interest to justify continuing to make it available. Additionally, we’ll explore work-arounds to allow the service to continue to operate (at least on a self-hosted, personal capacity) without the expensive data subscriptions. There are only 2 that we really rely on: the fund holdings data from Finnhub, and the halal ratings from Musaffa.

You’re welcome to continue using the service for now. We’ll figure this out as time passes. No matter what happens, you’ll always have full control over your account through Alpaca.

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Salam Atif, thank you so much for the heartfelt words of encouragement :raised_hands:

I think we can figure that out. At minimum, we could add some sort of import tool that lets you setup funds based on exports/crawls from free websites (e.g. etf.com, etc). Not something we’d done before, but something we could explore down the road.

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Thank you Yazin for everything that you’ve done! It’s been a wonderful ride that I hope continues at some capacity. Thank you for open sourcing the code however with no programming background we’d need instructions on how we can deploy on a personal level.

During these months maybe we can brainstorm a standardized solution that allows us all to deploy and host our own versions?

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Asalamualikum ; I am heartbroken to hear this but such is life. First of all, thank you for creating the product and putting in the hard work so far. Secondly, hope this thing continues albeit in a way that makes sense to you. Having said that, if for some reason, the whole project shuts down, at what point, should we liquidate the funds? and if so, at that point, should we leave money in Alpaca or move it out?
Regards,
Omer

1 Like
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Salam Omer, appreciate your kind words!

You can do so at any point, even after a potential shut down of the Fund Purifier. You will always have direct access to Alpaca, and can always liquidate positions directly, without using the Fund Purifier, if you choose to do so.

We’ll keep it running for the next 9 months inshallah, and I have strong hopes we’ll be able to keep going well beyond that (though I can’t make any guarantees). Personally, I’ve had good experience using Alpaca, and will continue to use it.

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Thanks Yazin for your elaboration for possible future pathways.

In the meantime and near future, will you continue to support the current version with bug fixes and technical issues?

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You can log issues at Issues · fundpurifier/app · GitHub. I’ll be spending some time on fixes/improvements in a personal capacity, but all issues should be logged with the expectation that others will step in and support.

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Has anyone taken steps to deploy this?