NayaPay, a Karachi, Pakistan-based fintech platform, raised $13m in seed funding.
The round was led by Zayn Capital, with participation from MSA Novo, VC Graph Ventures, Saison Capital, Waleed Saigol’s Maple Leaf Capital and Warren Hogarth, CEO Empower Finance, alongside a major investment from the sponsors of the Lakson Group – a Pakistani conglomerate with interests in media, telecom, industrials, financial services as well as controlling stake in Colgate-Palmolive Pakistan and McDonalds Pakistan.
Led by CEO and Founder Danish A. Lakhani, NayaPay is a fintech platform enabling underserved consumers and SMBs to get access to financial services. NayaPay has been in a private beta, building a community of early supporters for its consumer proposition, a chat-led app accompanied by free Visa Virtual and physical cards. Any citizen can open a wallet on their smartphone in minutes and use the app to make everyday payments, send and receive money, split bills and much more. For merchants, NayaPay offers access to universal payments acceptance and financial management tools with a business account and Visa card.
NayaPay recently secured an E-Money Institution license from the central bank, State Bank of Pakistan.
FinSMEs
24/02/2022