You Are At Technology TimesNewsPakistani startup “Finja” raises $1 million in funding for a product to replace cash


Pakistani startup “Finja” raises $1 million in funding for a product to replace cash

LAHORE – A Pakistani startup Finja that relies on the financial technology model (Fintech) has
 
successfully raised $1 million from Stockholm-based Vostok Emerging Finance for a product
 
that they hope will eventually replace cash. 
 
Founded by seasoned individuals from banking and technology Qasif Shahid, Monis Rahman,
 
and Umer Munawar, Finja aims to introduce innovative financial services through the upcoming
 
launch of a mobile wallet product.
 
The innovators behind the idea aim to overpower existing services by focusing more on price,
 
process and functionality of the service. Moreover, zero service charges for both
 
senders/receivers pins hope on the success of the idea.
 
Qasif Shahid, co-Founder and CEO of Finja said, “As Pakistanis continue to rapidly adopt digital
 
mediums, there is an opportunity to transform lives by reinventing business models and
 
removing friction through digital interventions.”
 
“This initial seed financing round will enable Finja to demonstrate the power of digital-by- design
 
financial services and is just the beginning of our journey”, commented Monis Rahman, Co-
 
Founder and a board member of the company.
 
Finja will partner with a Micro-finance bank to roll out its mobile wallet by the end of current
 
year.

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Short Link: http://technologytimes.pk/post.php?id=10452

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PAKISTANI STARTUP “FINJA” RAISES $1 MILLION IN FUNDING FOR A PRODUCT TO REPLACE CASH

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