Creditfix, a Karachi, Pakistan-based fintech startup, secured an undisclosed amount of seed funding.
The convertible loan financing round was led by Insitor Partners Pte. Ltd. with participation from local investor ACT Group and high net worth Individuals.
The company intends to use the funds to continue to expand oeprations and its development efforts.
Led by CEO and Founder Owaiz Zaidi, Creditfix offers conventional and Shariah-based lending solutions and financial services for MSMEs. By adopting new technology such as Artificial Intelligence (AI) to reduce the operating cost of disbursing loans, the company uses its mobile application platform to underwrite and extend asset-backed, productive loans starting from USD 60 to USD 10,000.