Pakistan’s emerging payment solutions provider, Keenu (Wemsol Pvt Ltd), is expecting $5 million in funding from the International Finance Corporation (IFC).
Keenu is a Karachi-based company that provides Point of Sales Payment terminals for debit and credit cards. With the additional funding, the company intends to expand its network across the country.
The company also has plans to offer Digital wallets to consumers and merchants. While it will apply for an E-Wallet license from the State Bank of Pakistan (SBP).
Keenu currently has more than 10,000 devices, representing about 30% of the total market share.
In a statement to the media, the International Finance Corporation said that the board of the International Finance Corporation will consider the investment proposal by the end of August.
If the deal is successful, it will mark a record-breaking fundraising project from Pakistani startups.
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