Emerging Fintech Player ‘NayaPay’ secures $13mn in seed funding

March 7, 2022

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Pakistan’s emerging Fin-Tech player ‘NayaPay’ has raised $13 million in seed funding. The funding round was led by Danish Lakhani, CEO of Zayn Capital, MSA Novo and early stage investor in Silicon Valley Graph Ventures, led by Zayn Capital.

Participating in the round also included Singapore-based Saison Capital, Maple Leaf Capital and Empower Finance CEO Warren Hogarth, as well as significant investments from backers Lakson Group.

Last year, NayaPay became the first e-money institution in Pakistan to be commercially approved after a year-long trial and review by the State Bank of Pakistan (SBP).

Company intends to serve more than 50 million unbanked population in Pakistan. This fintech chat payment app is starting to support students and freelancers.

With the new funding round, Company aims to expand its operations.

NayaPay mentions in a statement that it has launched a chat-based super application, mostly for students and freelancers. It is building a SaaS-based platform called NayaPay Arc, which provides global acceptance of payment and financial management tools for small and medium-sized businesses.

“NayaPay’s platform strategy will leverage the networking effect between consumers and merchants seen in platforms such as Square Cash/Square, WeChat Pay, AliPay and Venmo in their home markets,” the statement said.

A. Lakhani, CEO and Founder of NayaPay said, “NayaPay Arc will provide global payment acceptance and enterprise financial management toolset to support entrepreneurs and small business owners.

This tool aims to give business owners insight into their cash flow. pay suppliers and increase sales Our goal is that you can focus on growing while we take care of the rest. By helping small businesses harness the power of technology. We believe we can change the Pakistani economy.”

Faisal Aftab, Managing Partner and Co-Founder of Zayn Capital “Pakistan fintech companies have the advantage of learning from their peers and making strategic bets on There is more information.”