Fintech Startups

Which Are The Most Successful and highly Funded Fintech Startups In Pakistan 2022?

The Fintech startups in Pakistan are increasing. There has been a surge in interest from startups and established companies looking to enter this market. According to Venture Intelligence, there were over 40 fintech startups in Pakistan at the end of 2017. They have raised $1 billion since 2010.

The fintech sector has seen some incredible growth in recent years. According to the World Bank, it grew by 2.5% annually between 2010 and 2015. In 2016 alone, it grew by almost 10%. That means the market size has grown from $1 billion to $2.4 billion within five years. Pakistan is home to many fintech startups. These companies are working to bring innovative financial products and services to the Pakistani market. TechSpotpk is committed to bringing you the latest news and insights on these startups.

There are several reasons why the fintech sector is booming so quickly.

  • Many people want to use their smartphones to access their money.
  • There is an increasing demand for digital payment systems.
  • The cost of developing software has decreased significantly.
  • Banks are trying to stay competitive with innovative products.

Finally, more countries are opening up their markets to foreign investors.

With all these factors combined, the fintech sector looks set to continue its rapid growth in 2018 and beyond. 

Top Pakistani Highly Funded Fintech Companies

The following list includes some of the top fintech companies in Pakistan. These companies have received funding from both private and public sources.


One company in Pakistan that facilitates mobile money transfers is called Easypaisa. As a partnership between Telenor Pakistan and Tameer Microfinance Bank, it was established in 2009 to serve the unbanked people of Pakistan. Mobile top-ups, bill payments, domestic remittances, and merchant payments are just some of the many new financial services that Easypaisa, Pakistan’s largest mobile money service, has introduced since its launch. Services are made available through a distribution network of agents, retail outlets, and a smartphone app. Millions of people in Pakistan do not have access to traditional banking services, which Easypaisa hopes to change.


FINJA, a cutting-edge platform, was founded in 2015 by a Pakistani and offers financial services to professionals, merchants, and traders. As a FINTECH startup in Pakistan, it specializes in payment lending and credit needs, serving the under-banked population segment. The startup has received investments from Habib Bank and has partnered with leading banks such as Meezan Bank, FINCA, Easypaisa, PMIC, and HBL to drive the digitalization of Pakistan’s economy. The FINJA app can be downloaded on both Android and iOS devices.


Sadapay, a digital bank established by an American entrepreneur in 2019, has its headquarters in Islamabad, the capital of Pakistan. With its international transaction capabilities, it allows payments to be made from 45 countries. In addition, it has received in-principle approval from the State Bank of Pakistan to launch a digital wallet.

One of Sadapay’s key selling points is its ability to provide global payment solutions to freelancers, who comprise a rapidly growing segment of the workforce in Pakistan. Historically, receiving international payments has been a challenge for freelancers in Pakistan, but Sadapay has easily made it possible for this group to receive payments. This sets the fintech startup apart from other contemporary companies and makes it a standout player. Furthermore, Sadapay is the only fintech startup in Pakistan to have raised $7.2 million in seed funding, led by the New York-based investment firm Recharged Capital.


KEENU is a payment network founded by Wemsol Private Limited that enables easy and secure bill transfers, even if you don’t have cash. Its goal is to improve the retail and checkout experience for customers.

The company has achieved this by launching a mobile app that boasts a unique feature of boosting sales through high customer volume visualization. As a result, KEENU has formed partnerships with over 7,000 businesses. Additionally, this fintech startup in Pakistan has received approval from the State Bank of Pakistan to operate as an Electronic Money Institution.


With the tagline ‘’ life is too short to spend in line’’ NAYAPAY has effortlessly made it accurate. NAYAPAY is one of the newest launching fintech startups in Pakistan. With an e-money wallet, they offer a visa debit card to their customers for safe and quick international payments.

NAYAPAY is also one of the Fintech startups in Pakistan that got an EMI license from the state bank of Pakistan. Zong, Jazz, JS bank, and Askari bank limited is some mega-companies to join with NAYAPAY to digitize the economy in Pakistan.

Tez Financial Services:

Tez is one of the non-bank finance company that was founded in 2016. It is one of the fintech companies in Pakistan that is designed to keep in mind the challenges faced by the regional population and make it possible to create fintech opportunities in Pakistan. Tez produced three main products, which help customers receive easy loans, insurance, and investments.

All the activities of Tez are controlled under a single digital app. To fulfill its mission to streamline the finance channeling to needy customers, Tez joined hands with other Fintech companies like Easypaisa.


Credfix joined hands with Malinda and Gates foundation when it was launched in Pakistan in 2016. The unique financial services of this startup revolve around helping clients with the most accessible possible loans. Another distinct feature of this startup is they lend experts’ financial bits of advice to their customers and design the best customized plan according to the client’s needs.


Fundraiser is another company that provides a platform for fundraising through crowdfunding. It allows individuals to raise funds for any cause or project they choose. Fundraiser is headquartered in Karachi, Sindh.


Patrona is a mobile app that helps users manage their finances. It allows them to track their spending and budgeting. It also provides tools such as expense management, savings accounts, and credit cards. Patrona is based out of Karachi, Sindh.

Scope And Challenges For Fintech In Pakistan

The Fintech sector in Pakistan has snowballed since its inception in 2006. According to the World Bank, the country’s GDP grew by 6.9% in 2018, higher than any other South Asian economy except India. The government plans to increase the country’s economic output by 7.6% annually until 2030.Pakistan Fintech

Despite this strong growth, the fintech industry still faces significant challenges. One major challenge is the lack of fintech regulations in Pakistan. Many people believe that there should be greater oversight of the fintech sector. They argue that the current regulatory framework is not enough to protect consumers. Another challenge is the high rate of fraud. There have been cases where hackers have stolen millions of dollars worth of personal data.

Despite these challenges, the fintech market in Pakistan is expected to grow at a CAGR of 20% between 2019 and 2024. Some experts predict that the fintech industry will become one of the largest industries in Pakistan 2025.

The Comparison Between India And Pakistan Fintech Startups

In India, the fintech industry is growing at a rate of 20% per year. In comparison, Pakistan has only one startup focused on this sector. However, it seems that the gap is closing quickly. As more and more people start realizing how much time and effort it takes to launch an online business in Pakistan, entrepreneurs are starting to take matters into their own hands.

It is estimated that over USD 1 billion has already been invested in the Indian fintech sector. On the other hand, less than half a million dollars has been invested in Pakistani fintech startups.

While India has several large banks and financial institutions, Pakistan does not. As a result, many companies in the Indian fintech sector focus on offering banking services. These include digital wallets, payment platforms, lending, etc.

Fintech Startups in Pakistan

However, the situation is changing slowly. More and more businesses are coming up with innovative solutions that can help solve some of the problems the average consumer faces.

Regarding business activity and activity crowd-funded through equity markets, India leads the pack with almost 50% market penetration, while Pakistan’s market share is just around 2%. Indian Fintech startups also enjoy a much higher valuation compared to Pakistani ones. Indian unicorns (startups worth more than $1 billion) make up around 60% of all startups, while Pakistani unicorns account for just 5%. 

But Indian and Pakistani entrepreneurs don’t just differ in their investment strategies and business models – they also have different ambitions for their Fintech startups. 

Indians are more focused on developing innovative products and services that can be used by consumers and businesses alike. In contrast, Pakistanis are typically focused on automating transactions and building mobile apps. 

Nevertheless, there is a lot of potential for collaboration between Indian and Pakistani Fintech startups as both countries aim to develop their respective economies.

These are just a few examples of innovations currently being developed in the fintech space. While they are all great ideas, it remains to be seen which ones will make it big.

Pakistan Fintech Startup Market Outlook

According to CB Insights, the total value of investments in the fintech sector in 2018 was $2.3 billion. The global fintech market is expected to reach $4.5 trillion by 2020.

According to Venture Intelligence, the fintech sector is expected to grow at an annual rate of 21%. The report also states that the fintech sector will become one of the biggest industries in Pakistan by 2025.

As mentioned earlier, there is very little competition in the fintech market. Therefore, it is easy to see why so many startups have started focusing on this sector.

There are three main reasons why Pakistan needs fintech startups.

  • The country lacks access to capital.
  • There are no regulations regarding cryptocurrencies.
  • The government is struggling to regulate the existing financial institutions.

The first reason is that most of the population is below the poverty line. They do not have enough income to pay off their debts. In addition, people often borrow money from friends and family members. However, these sources of funding are unreliable. If the borrower fails to repay the loan, he/she could lose his/her home.

The second problem is that there are no regulations regarding cryptocurrency. There are no laws governing how crypto exchanges operate. As a result, people are using them to launder money. The third issue is that the government is struggling to find ways to regulate the existing financial system.

This means that the government has been unable to provide sufficient regulation for the industry. For example, banks cannot open accounts for companies with cryptocurrencies.

In addition, the government does not know what to do about companies that deal with cryptocurrencies and blockchain. One thing that can be done is to ban Bitcoin trading completely. Another option would be to require that people who trade bitcoins register with the government.

In conclusion, Pakistan needs fintech startup companies to help solve its problems. These companies should focus on making credit more accessible, creating better banking systems, helping people save money, and creating fintech jobs in Pakistan.

Fintech Opportunities In Pakistan

The fintech Startups in Pakistan is growing at a rapid pace. With the increasing penetration of smartphones and internet connectivity, the country has become one of the most attractive markets for fintech startups. Pakistan has a burgeoning Fintech industry waiting to be tapped by the right startups. 

There are several opportunities for startups in the country, from payments and mobile banking to blockchain and artificial intelligence. The Fintech growth in Pakistan has been fueled by technological advances, increasing access to financial services, and ongoing regulatory reforms.

Fintech startups in Pakistan can capitalize on these strengths by addressing the particular needs of consumers and businesses. Payments companies can offer innovative remittance solutions, such as bitcoin remittance. Mobile banking companies can offer low-cost financing products that could benefit small businesses and consumers who face difficulty getting loans from traditional institutions. 

Also Read: How to Make Money Online In Pakistan without Investment for Students in 2022?

Another opportunity for Pakistani Fintech startups is to explore new application areas for blockchain technology. This emerging technology has the potential to revolutionize many aspects of business, including shipping, healthcare, and securities trading. The Fintech Startups in Pakistan that develop innovative blockchain applications could gain a competitive edge in the market.  

Pakistani startups failure

However, some challenges still need to be overcome before the fintech industry becomes fully established. Some of these challenges include a lack of awareness among consumers about digital finance products, low literacy levels, poor infrastructure, and high cost of doing business.

However, despite all these challenges, the fintech industry in Pakistan is booming. According to, the number of fintech startups in Pakistan grew from 10 in 2014 to over 100 in 2017.

In the country today, there are over 300 fintech startups. Most of these businesses are devoted to creating mobile apps or online platforms.

One of the biggest challenges facing fintech startups today is finding investors. Investors play an essential role in the success of any company. Without funding, it will be extremely difficult for a startup to survive.

Future Of Fintech In Pakistan

Pakistan is one of the most vibrant fintech hubs in the world. With a young and expansive population, there is no doubt that Pakistani startups have a lot to offer. Despite being relatively new, Pakistani fintech startups already boast some impressive achievements.

Some of the top players in the space include mobile payment solutions provider MobizPay, fintech marketplace Finx solutions, and crowdfunded lending platform Fundoo. There are plenty of opportunities for Pakistani fintech startups to grow and scale. 

They can focus on creating new products and services that meet the needs of local consumers, expanding their operations into new markets, or partnering with larger businesses to take their platforms global. In addition to growth in Pakistan, international investors are starting to pay more attention to the country’s burgeoning fintech sector

This is likely due to Pakistan’s strong economic fundamentals and growing popularity as a regional financial hub. With so much potential in the future, Pakistani fintech startups are well-positioned to take advantage of all that lies ahead.

There are many reasons why the future of fintech Startups in Pakistan looks bright.

  • The government is planning to launch a national e-commerce platform by 2020. This will create new opportunities for fintech startups in the country.
  • The government plans to introduce a bill allowing fintech startups to operate without obtaining licenses.
  • The government is also working on establishing regulatory bodies for the fintech sector. Finally, the government wants to encourage local entrepreneurs to start their fintech businesses.

These initiatives will make it easier for Pakistani fintech startups to succeed. However, it will take time before they begin to flourish.

So far, only a few fintech startups have succeeded. Many others have failed due to various reasons. The main reason behind this failure is the absence of proper regulations.

Fintech Startups In Pakistan FAQs

What is Fintech in Pakistan?

Fintech is a term that refers to the latest wave of technology-driven financial products and services. Fintech platforms allow customers to make online payments, access credit, and financial services, and invest in stocks and cryptocurrencies. Fintech companies are working to make banking more accessible for everyone and are revolutionizing traditional finance in Pakistan.

How many FinTech companies are there in Pakistan?

There are a few FinTech companies in Pakistan, but they face various challenges. For example, the banking system is still primarily Orion-based, which makes it difficult for Startups to access traditional financing. Regulations also pose a challenge: there is no specific law regulating FinTech, and banks are not always willing to work with startups.

What are FinTech ways in Pakistan?

FinTech ways in Pakistan refer to various technological innovations in the financial services sector, from mobile banking and retail payment solutions to blockchain applications.

How do I start a FinTech Startup?

The best way to start a FinTech startup is to build a great product, get certified by the FINRA/SEC, and get started fundraising. However, there are other important factors to consider if you want your startup to be successful. These include understanding the FinTech space, being extremely passionate about your product, and hiring top talent.

Is Pakistan ready to embrace fintech Innovation?

Financial technology (fintech) has the potential to thrive in Pakistan because of its large population of young people with internet and smartphone access and a strong preference for mobile devices and social media.


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