Pakistan’s Secure Logistic-Trax Ltd (SLG-Trax) has announced that its Board of Directors has approved negotiations for the potential acquisition of Singapore-based Finova Technologies. The development follows the issuance of a Non-Banking Finance Company (NBFC) license to LogiServe (Pvt) Ltd, a wholly owned subsidiary of SLG-Trax, by the Securities & Exchange Commission of Pakistan (SECP) on August 19, 2025. The company disclosed the news in its official notice to the Pakistan Stock Exchange (PSX).
According to the filing, the acquisition would give SLG-Trax access to Finova’s suite of intellectual property and potentially its operational control. Finova Technologies is known for its work in digital payments and smart lending solutions, particularly in supply chain finance. SLG-Trax highlighted that the acquisition aligns with its strategic vision to embed financing into logistics operations, creating value for its retail and corporate clients. The company emphasized that the proposed acquisition remains contingent upon completion of due diligence, regulatory approvals, and final agreement between both parties.
Details shared in the PSX notice revealed that Finova’s fintech platform has already been piloted with select SLG-Trax retail clients. Since February 2025, the platform has processed 1.20 million shipments, facilitated Rs17 billion in wallet payments, and managed Rs3.50 billion in lending throughput. These figures underline the platform’s capacity to handle large-scale operations and its potential to integrate seamlessly into SLG-Trax’s logistics ecosystem. The acquisition would allow the company to formally launch NBFC-backed services in the final quarter of 2025, leveraging Finova’s technology to expand financial offerings.
Once operational, the NBFC venture will provide services through a fintech platform equipped with a payment portal, lending management system, and an AI-powered credit engine. These tools are designed to streamline financing across logistics and delivery processes, supporting both retail and e-commerce clients. SLG-Trax stated that the NBFC initiative is expected to improve operational efficiency while contributing to its bottom line through lending spreads. Beyond domestic operations, ownership of a complete suite of IP-backed fintech software would also give SLG-Trax the opportunity to market the solution in international markets, broadening its footprint.
As a publicly listed fourth-party logistics (4-PL) entity, SLG-Trax already operates through four subsidiary companies, providing a range of supply chain and logistics services. The potential acquisition of Finova reflects its ambition to combine logistics expertise with fintech capabilities, thereby offering integrated solutions to its 9,000 retail and 300 corporate e-commerce clients. If concluded successfully, the deal would mark a significant development in the company’s evolution into a hybrid logistics-fintech player.
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