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Pakistani FinTech Raised $1 Million in Seed Funding


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Pakistani FinTech Raised $1 Million in Seed Funding
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zeeshanshafi
Senior Proud Pakistani
Senior Proud Pakistani


Joined: 19 Jan 2016
Posts: 2284

Pakistani FinTech Raised $1 Million in Seed Funding


Finja, a FinTech startup established by Qasif Shahid, Monis Rahman and Umer Munawar, declared today that is has brought $1 Million up in seed subsidizing round drove by Stockholm based Vostok Emerging Finance.

Finja said that it will utilize the venture for a versatile wallet item that they are wanting to dispatch monetarily in the not so distant future.

Finja said that its will probably offer creative money related administrations to Pakistan's quickly developing digitally educated populace by uprooting money.

At the point when asked that how Finja's portable wallet will be any not quite the same as other accessible items in the business sector, Qasif Shahid told ProPakistani that his startup is planning to disturb the versatile wallet industry at three levels:

Cost

Process

Usefulness

Qasif clarified that his versatile wallet will be come with no administration charges (dissimilar to right now accessible wallets that accompany an expense for doing exchanges) for both the senders/recipients or for both the purchasers and the venders.

He went ahead to claim that his startup is likewise smoothing the procedure for clients to get installed lastly making it more lucrative and practical for purchasers through included usefulness that is generally not accessible in the business sector.

Qasif said that as Pakistanis keep on rapidly embrace computerized mediums, there is a chance to change lives by re-imagining plans of action and expelling erosion through advanced mediations.

Monis Rehman, a prime supporter at Finja, remarked on the subsidizing and said that this underlying seed financing round will empower Finja to show the force of advanced by-outline monetary administrations and is only the start of their excursion.

As an aftereffect of the round, Vostok Emerging Finance Managing Director, David Nangle, will join Finja's directorate and assume a key part in controlling the organization with the asset's broad involvement in developing FinTech drove activities in developing markets.

"We are pleased to band together with a really world-class group in a standout amongst the most energizing FinTech showcases universally with huge undiscovered potential," said David Nangle, "Pakistan's quickly growing 3G/4G empowered cell phone endorsers, upheld by a dynamic administrative system, are a distinct advantage for giving computerized money related administrations to the nation's 200 million under-saved money populace."

Finja will join forces with a Micro-account bank for revealing its portable wallet. While the pilot has been conveyed as of now, the business dispatch of Finja's wallet ought to surface around Q4 of 2016.
Tue Aug 02, 2016 2:53 pm View user's profile Send private message
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