11 Fintech Startups from Pakistan You Need to Know About in 2017

by Muhammad Tamoor 1,155 views1

According to the World Bank, half of Pakistan’s population do not have access to the most fundamental banking and financial services. The arrival of Pakistani fintech startups catering to average consumers has effectively bridged this gap, enabling local “unbankable” citizens to enjoy the conveniences of modern banking and finance—while allowing for more productive and efficient digital financial services.

Pakistani fintech startups have emerged with a myriad of offerings as of late—here are 11 of the best you need to be aware of in 2017 and beyond.

11. AutoSoft Dynamics

Source: autosoftdynamics.com.

AutoSoft Dynamics is a software development shop that specializes in developing financial applications. Its solutions are currently being used by both international and domestic banks. The company leverages its staff’s technical expertise and diversified banking experience to develop custom financial solutions for its clients.

10. AbacusConsulting

Source: abacus-global.com.

AbacusConsulting was founded as a management consulting firm—but has evolved into one of Pakistan’s premier business solutions providers. The company specializes in developing finance-related business solutions for business and organizations large and small.

9. Finja

Source: finja.pk.

Finja was founded by tech and banking industry veterans in efforts to produce innovative financial services accessed via digital ecosystems. Its SimSim solution is Pakistan’s first payment solution for free and frictionless payments in real-time.

8. Inov8

Source: inov8.com.pk.

Inov8 is widely regarded as the fastest growing digital payments company in the region. The company collaborates with Easypaisa to connect its vast distribution network to all commercial banks that have adopted Inov8’s technology; additionally, it recently signed up Telenor Microfinance Bank’s mobile money platform to its platform.

7. KarloCompare

Source: karlocompare.com.pk.

KarloCompare’s web and mobile app allows users to compare a large range of credit card, personal/auto loan, travel insurance, and broadband offers with a few clicks/swipes. The startup has been featured by Techinasia, E27, Yahoo! News, and Propakistani, among others.

6. OneLoad

Source: oneloadpk.com.

OneLoad’s platform allows users to top up their mobile accounts easily through its streamlined mobile app and web portal. Retailers can top up mobile numbers from any mobile phone operator, allowing for a unified mobile billing experience for customers and a single universal mobile usage balance.

5. Red Buffer

Source: redbuffer.net.

Red Buffer specializes in developing data science services, cloud and mobile apps, and machine learning/natural language processing (ML/NLP) applications. The company focuses in particular on NLP for domains like legal, finance and e-commerce.

4. Stocksfm

Source: stocksfm.com.

Stocksfm has created the first transparent social investment network focused on emerging markets. The company created the $ticker tag to compile and organize streams of information around stocks and markets, across internet and social media websites. This innovative “stream” concept provides insights and ideas used by investors, media analysts, and others as they research and manage their financial investments.

3. Monet

Source: monet-online.com.

Monet is a card and payment services provider aimed at digitizing payments in cash-based economies. The startup was the winner of the Grand Challenges Explorations, an initiative funded by the Bill and Melinda Gates Foundation.

2. TPS

Source: tpsonline.com.

TPS develops solutions for prepaid mobile card and card management channels, payment issuing, billing payment gateway integration, and more. The company is trusted by over 120 customers in over 30 countries across the globe.

1. Payload

Source: payload.pk.

Incubated at Plan9, Payload has developed an easy-to-use technology that allows businesses to accept bitcoin payments while only handling Pakistani Rupees. Check out our coverage of Payload in last year’s 15 Tech Startups in Pakistan You Need to Know About.

Fintech may have taken the world by storm, but in Pakistan, various roadblocks must be surpassed before digital solutions are accepted into the local banking and finance mainstream. Despite the challenges, these 11 innovators are leading the charge to bring fintech to Pakistan’s masses; be sure to keep them on your radar in 2017 and beyond.

 

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Comments (1)

  1. Really a great list of startups, looks nice. it would be nice to add https://mirchmasalatv.com/ a newly launched startup site covering Business,Technology and News domain.

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