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Finja closes $9mln financing round


Finja closes $9mln financing round
Business
December 31, 2020
KARACHI: Finja, Pakistan’s leading digital lending platform has closed $9 million of a $10 million series A1 financing round, a statement said.
This latest round brought in a new investor, ICU Ventures. Other institutional investors include BeeNext, Vostok Emerging Finance, Quona Capital and Gray MacKenzie Engineering Services (a Descon company). Under the terms of the financing, the company has the flexibility to raise an additional $1 million as a part of this round.
Finja subsidiaries operate under dual licensing regimes of the State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP) for its lending and digital payments businesses. ....

Qasif Shahid , Monis Rahman , Exchange Commission Of Pakistan , Gray Mackenzie Engineering Servicesa Descon , Finja Co , Vostok Emerging Finance , Quona Capital , Gray Mackenzie Engineering Services , State Bank , Exchange Commission , Chairman Monis Rahman , மோனிச் ரஹ்மான் , பரிமாற்றம் தரகு ஆஃப் பாக்கிஸ்தான் , சாம்பல் மெக்கன்சி பொறியியல் சேவைகள் , நிலை வங்கி , பரிமாற்றம் தரகு , தலைவர் மோனிச் ரஹ்மான் ,

Pakistan's fintech giant Finja raises $9 Million in Series A1 round


A few days back, we reported about Finja getting a much-needed approval from SECP to start pilot operations for their peer-to-peer platform. That was pretty much the news the Finja management was waiting for it seems as they have raised $9 million in a Series A1 round.
The investment is led by a number of ventures including ICU Ventures, BeeNext, Vostok Emerging Finance, Quona Capital and Gray MacKenzie Engineering Services (a Descon company). With this first-of-its-kind support from both regulators, Finja has forged digital partnerships with banks, FMCGs, distributors, kiryana stores and small businesses. 
Commenting on the investment raised, Qasif Shahid CEO of Finja had this to say: ....

Qasif Shahid , Gray Mackenzie Engineering Servicesa Descon , Vostok Emerging Finance , Quona Capital , Gray Mackenzie Engineering Services , சாம்பல் மெக்கன்சி பொறியியல் சேவைகள் ,

NIC LUMS initiates 'Entrepreneur in Conversation' series; Strengthens foundation council


NIC LUMS initiates ‘Entrepreneur in Conversation’ series; Strengthens foundation council
Press ReleaseLast Updated: Dec 31, 2020
The National Incubation Centre Lahore (NICL) at LUMS is on a renewed mission to contribute to Pakistan’s economic development by promoting innovation and entrepreneurship. Its latest initiative, the
‘Entrepreneur in Conversation’ series, features some of Pakistan’s brightest entrepreneurial minds discussing their innovative solutions to combat the country’s many challenges.
The talks are helmed by Saleem Ahmad, Chairman NICL. “We hope that these informal and interactive sessions will serve as an opportunity to learn from entrepreneurs who are solving Pakistan’s big problems, and thereby creating lasting impact. In the process, we hope to inspire a generation of young problem-solvers who can learn from these entrepreneurs’ path-breaking journeys,” Mr. Ahmad commented. ....

Suneel Sarfraz Munj , Badar Khushnood , Shabahat Ali Shah , Usman Javaid , Saleem Ahmad , Ayesha Khanna , Qasif Shahid , Faisal Aftab , National Information Technology Board On , Foundation Programme , National Incubation Centre Lahore , Foundation Council , Technology Management Entrepreneurship , Ricult Inc , Southeast Asia , National Information Technology Board , Managing Partner , Executive Director , Lakson Venture Capital , Silicon Valley Based , Board Member , Technology Management , சுனீல் சர்ப்ராஸ் முஞ்ச் , படர் குஷ்னூட் , உஸ்மேன் ஜாவைத் , ஆயிஷா கண்ணா ,

Pakistani FinTech Finja secures $9mn in Series A financing

Pakistani FinTech Finja secures $9mn in Series A financing
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SECP approves Pakistan's first peer-to-peer lending platform


Business
December 24, 2020
ISLAMABAD: The Securities and Exchange of Commission of Pakistan (SECP) has approved the launch of the country’s first peer-to-peer lending platform that will improve access of small businesses to finance, the commission’s chairman said on Wednesday.
Finja, a venture capital backed financial technology (fintech) secured the approval under the first cohort of SECP’s regulatory sandbox.
Aamir Khan, chairman of the SECP said the commission placed significant focus on serving the micro small and medium enterprises (MSMEs) as they play a vital role in the economic development of any country. To improve access to finance for the MSMEs, agriculture borrowers and rural enterprises, SECP has already operationalised the secured transaction registry, which went live on 30 April. So far, more than 125,000 security interests have been recorded in the registry. This has allowed small businesses to obtain credit against their movable assets. ....

Qasif Shahid , Aamir Khan , Monis Rahman , Pakistan Stock Exchange , Exchange Of Commission Pakistan , அமீர் காந் , மோனிச் ரஹ்மான் , பாக்கிஸ்தான் ஸ்டாக் பரிமாற்றம் , பரிமாற்றம் ஆஃப் தரகு பாக்கிஸ்தான் ,