• Legacy
  • Academy
  • Business
  • PayTech
  • Ignite
  • Cellcos
  • Wired
  • CovidTech
  • Library
  • Touch Base
Subscribe
CW Pakistan

Computerworld Pakistan

CW Pakistan
  • Legacy
  • Academy
  • Business
  • PayTech
  • Ignite
  • Cellcos
  • Wired
  • CovidTech
  • Library
  • Touch Base
  • Business

Finja Raises $1.5mn in Series A Funding

  • October 18, 2017
  • Content Desk
Total
0
Shares
0
0
0

Pakistan’s leading mobile wallet Finja, backed by the FINCA Microfinance Bank announced Series A funding of USD 1.5 million. The round is led by Vostok Emerging Finance, a listed investment company on the Stockholm Stock Exchange. Vostok had earlier invested in Finja through a convertible note last year, and they are joined by investor Gray Mackenzie Engineering Services, a Descon company.

Finja’s product SimSim was the first mobile wallet to be granted a license by the State Bank of Pakistan. Currently, SimSim; the mobile wallet boasts of 80,000 accounts since its launch in August 2017. SimSim has been a pioneer in the local fintech industry and definitely takes the credit for introducing the ‘one-minute bank account opening’ in Pakistan. Co-founders at Finja include Monis Rahman, Qasif Shahid and Umer Munawer.

Read: DIB Opts for TPS IRIS Omni Channel Payment Platform & Prepaid Cards Management Solution

Qasif Shahid, Co-Founder and CEO of Finja said:

In a few short months, our dream of digitizing payments in Pakistan
through zero transaction fees is becoming a reality.

Monis Rahman Co-Founder and Chairman of Finja added:

This financing round by notable international and local investors is a strong
vote of confidence for our early traction and the potential of the Pakistani market

Thus far, SimSim has clocked more than Rs. 1.5 billion in transactions through peer to peer payments, QR code led merchant payments, an e-commerce marketplace, bill payments and mobile top-ups. All transactions through SimSim are completely free with zero transaction fees aiming to accelerate digital payments in Pakistan.

Read: JS Bank, Abacus Consulting Collaborate to Enhance Digital Platform

David Nangle, partner at Vostok Emerging Finance said,

“We are delighted to participate again in Finja’s Series A and are very pleased with the execution of the team in this large untapped high barrier to entry market.”

The SimSim bank account takes less than a minute with real-time NADRA identify verification and artificial intelligence algorithms carried out on the user’s mobile phone.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Content Desk

Previous Article
  • Technology

KPITB Initiates the International Internship Program for Graduates

  • October 18, 2017
  • Content Desk
View Post
Next Article
  • Computerworld

Chairman PTA Announces 5G Trial Licensing in Pakistan

  • October 18, 2017
  • Content Desk
View Post
You May Also Like
View Post
  • Business
  • Wired

Flat-lining ICT exports

  • Sub Editor
  • January 26, 2023
View Post
  • Business
  • Wired

All You Need to Know About Pakistan’s Influencer Industry – Walee Pak Influencer Industry Insights Report 2021-22

  • Sub Editor
  • January 24, 2023
View Post
  • Business
  • Wired

The fastest growing jobs in Pakistan right now

  • Sub Editor
  • January 20, 2023
View Post
  • Business
  • Wired

SBP makes it easier for IT exporters to increase their income

  • Sub Editor
  • January 15, 2023
View Post
  • Business
  • Cellcos

Annual Report on Cybersecurity 2022 by PTA

  • Sub Editor
  • January 11, 2023
View Post
  • Business
  • PayTech

Businessmen in Islamabad want investors to turn profits into cryptocurrency assets.

  • Sub Editor
  • January 6, 2023
View Post
  • Business

Researchers developed a risky quantum decryption technique.

  • Sub Editor
  • December 23, 2022
View Post
  • Business
  • Wired

Zong 4G, Hands Pakistan Partner with Parks & Horticulture Authority to Develop Urban Forest in Multan

  • Sub Editor
  • December 13, 2022
View Post
  • Business

Jazz Signs Agreement: Garaj For Cloud Services

  • Sub Editor
  • December 3, 2022
View Post
  • Business

A Look At Karachi Qualifying Round Of Digital Pakistan Cyber Security Hackathon 2022 By Ignite

  • Sub Editor
  • December 2, 2022
View Post
  • Business

Sen. Senate: Google Will Soon Start Doing Business in Pakistan.

  • Sub Editor
  • November 24, 2022
View Post
  • Business

PTA Grants IoT Licences To Two Fresh Businesses

  • Sub Editor
  • November 10, 2022
View Post
  • Business
  • Wired

Pakistan at 75: LSE Summit in 2022

  • Sub Editor
  • October 28, 2022
View Post
  • Business

SECP Fixes Massive Data Leak Of Registered Company Information

  • webdesk
  • September 13, 2022
View Post
  • Business

Massive Data Breach The EDF Website of the Commerce Ministry

  • webdesk
  • September 1, 2022
View Post
  • Business

PTA Offers Two Local Businesses LDI Licenses

  • webdesk
  • August 2, 2022
View Post
  • Business

Permitting WeChat Service: SECP Says Go!

  • webdesk
  • August 2, 2022
View Post
  • Business

SBP Management Attends OICCI Interactive Meeting With Members To Allay Concerns

  • webdesk
  • August 2, 2022
View Post
  • Business

SECP To Introduce Companies for Digital Asset Management

  • webdesk
  • August 1, 2022
View Post
  • Business

STZA Signs Letter Of Intent with China’s SEDA To Further Technical Collaboration

  • webdesk
  • August 1, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

about
About
Launched in 1967 internationally, Computerworld Magazine is the oldest tech magazine/media property brand in the world. Today Computerworld (abbreviated as CW) is an ongoing decades old professional publication which in 2014 "went digital”. In Pakistan Computerworld was launched in 1995. Initially providing news to IT executives only, once CIO Pakistan from the same family launched, and took over the domain, CW Pakistan has slowly emerged as a holistic technology news platform reporting everything tech in the country. It remains the oldest running continuous IT media publishing platform in the country and approaching 3 decades of existence, it has been the industry’s biggest benchmark and hopes to continue for years to come.
Read more
Explore Computerworld Sites Globally
  • ComputerWorld.es
  • computerworld.com.pt
  • Computerworld.com
  • cw.no
  • computerworldmexico.com.mx
  • computerwoche.de
  • computersweden.idg.se
  • computerworld.hu
  • cwi.it
  • project.nikkeibp.co.jp
Content from other IDG brands
  • PCWorld
  • Macworld
  • Infoworld
  • TechHive
  • GameStar
  • Network world
CW Pakistan
  • CWPK
  • CXO
  • WALLET
  • Demo
CW Media & all its sub brands are copyrighted to SPIN-IDG Wakhan Media Inc., the publishing arm of NCC-RP Group. Site is designed by Crunch Collective ©️ 2022

Input your search keywords and press Enter.