QisstPay Raises $15M in Seed & Pre-Seed Funding

QisstPay

QisstPay, an Islamabad, Pakistan-based buy now pay later platform (BNPL), raised $15M across its seed & pre-seed rounds with a mix of equity and debt.

MSA Capital led the round, with institutional investment participation from Global Founders Capital, Fox Ventures, First Check Ventures; and a series of strategic angel investments from Simone Mancini and Johnny Mitrevski, Co-Founders of Scalapay, who recently raised a $155M Series A round at a $700M valuation; Ashley Davies, former CFO of Venmo and current Sylp CFO; former C Suite at Affirm; Adam Mawdesley, VP of Partnerships & Product at Splitit; and United Bank Limited of Pakistan.

The company intends to use the funds to expand its services to Sri Lanka and Bangladesh and its Islamabad-based team to over 100 people.

Led by Co-Founder and CEO Jordan Olivas, and Saad Ahmed, QisstPay is an installment payment service for emerging markets, which allows customers to pay for their purchase in installments with 0% interest and no late fees.

QisstPay currently serves over 500 retailers in Pakistan, including the likes of Samsung, Camelbak, Diesel, Philips, Xiaomi, and Lenovo and regional leaders such as Sapphire, Uniworth, Logo Shoes, and the largest Shopify store in the country, elo.

FinSMEs

29/09/2021