Pakistani financial technology (FinTech) Startup, Finja has raises $1 Million in seed funding from well known Swedish investment firm Vostok Emerging Finance. Finja will continue its operations as private beta. They are preparing for the launch of a customer-facing mobile wallet in collaboration with Finca Microfinance Bank.
Qasif Shahid co-founder and CEO of Finja said, the cost for cash transactions is very high and its wastes lot of money and time resources. He also said to other news sources, “We intend to create a product which will play a lead role in changing payment behavior and how people handle and manage money digitally”.
One of Finja’s executive thinks, Pakistan is already moving forward in digital world, 3G/4G enables smartphone subscribers and Finja will provide digital financial services to the country’s 200 million under-banked population. Commercial launch of Finja’s wallet will be announced soon this year.
Another co-founder of Finja, Monis Rehman was also excited to comment on this news, he said; this is game changer news for Fintech industry and Pakistan will enter into new digital payments era. This is initial seed funding, they will keep moving, it is just a beginning of the journey.