Pakistan E-Wallet Bank NayaPay Raised 13 Million Dollar as a Seed Money
A Pakistan Based Fintech Company NayaPay has Raised 13 Miiilion Dollars as Seed Money in South Asia. NayaPay Raised this Money to Scale their Business and to Launch its Multi-Services Messaging and Payment System.
The Round was Led by the Zayn Capital, a Global Fund Manager MSA Novo and early-stage VC Graph Ventures from Silicon Valley. CEO Empoer Finance, Waleed Saigol’s Maple Leaf Capital and Warren Hogarth,Singapore-based Saison Capital, Also Participate in the Round alongside the sponsors of the Lakson Group.
NayaPay,Being the First E-Wallet Bank of Pakistan has Also Get License From Central Bank, State Bank of Pakistan in order to Launch its Services Across Pakistan. NayaPay is Working With a Mission to Provide Financial Services in Simpe Way to its User. NayaPAy Take A Firm Step Towards Digitization of Banking Service in Pakistan.
There is Significant Market Opportunity For NayaPay in Online Pakistani Banking Sector. Currently, In Pakistani Market
- More than 50 Million People Do not have Even Bank Accounts
- Only 33% of women have a bank account.
- Almost $4tn payments are made each year but only 1% of these are made digitally currently.
- Since 70% of Current Pakistan populations are Under 35 years, there is a significant mobile-first generation.
- Majority of Merchants in Pakistan dealt primarily in cash and Do Not Use the Business Banking Services.
- On the merchant side, the majority of SMBs in Pakistan are unregistered.
NayaPay Was Primarily Launched its Super Financial App in order to Target students and freelancers. Nayapay Provide Amazing Services Like universal payment acceptance and financial management tools for SMBs.
NayaPay is Targeting Both Consumer Side and Merchant and Making its Easy For the Both Parties. It has Launched Different Service Like Square Cash/Square, WeChat Pay, AliPay and Venmo in their native markets in order to Facilitate Both Consumer and Merchant in Their Daily Banking Services.
Comment of NayaPay CEO and Founder Danish A Lakhnai:-
The CEO and Founder of Superb Financial Services NayaPay has Said :-
“NayaPay is empowering young Pakistani adults starting their financial journey, from students stepping into adulthood to freelancers and entrepreneurs taking an active role in managing their finances. In many senses, it’s a coming-of-age moment for many and our goal is to continue to innovate and build functionality to become a part of their daily lives, for the rest of their lives.”
While Talking To media , CEO Danish Said:-
- About 90% Of Businesses in Pakistani Ranging From Small to Medium Size. And hey Contribute Much to Economy.
- But they Are Not Provided With the Easy Banking Services and basic financial services.
- NayaPay Will Solve this Problem of Merchant So that They Can Easily Focus On their Business.
- Our Platform NayaPay Provide Universal Payment System and A Lot Of Other financial services to Its Consumer that help Them to Grow their Business.
- These Business Tools Will Help Business Owner in Easily Managing their Financial and Cashflow.
- Our goal is to enable them to focus on growth while we take care of the rest.
By helping small businesses harness the power of technology, we believe we can transform the Pakistani economy.CEO NayaPay
View of Co-founder Zayn Capital Fronteir On NayaPay
Faisal Aftab Who is Currently managing partner and co-founder at Zayn Capital Fronteir, has Said About the NayaPay in Following Words:
“We are very bullish on fintech in Pakistan. While just beginning to emerge, Pakistani fintechs have the advantage of learning from peers and placing better informed strategic bets. We were impressed by the completeness of the vision of the founding team at NayaPay, and their differentiated platform-based strategy– first focused on servicing the needs of underbanked consumers and SMBs with specific use cases and building out from there. With a proven ability to execute on the ground, the founder has an impressive track record of building and scaling businesses in Pakistan, including the country’s largest fiber broadband service (StormFiber).”
Comment of Omar Siddique On NayaPay :-
General partner at Graph Ventures, Omer Siddique has Said that :-
- It is Pleasure for us To Work with Danish and Amazing Startup NayaPay In Scaling their digital payments platform for consumers and merchants in Pakistan.
- Graph Ventures has Invested in 300+ Early Stage Companies In the US, South Asia and Latin America in order to Grow their Business.
- NayaPay is Offering Most Brilliant Solutions to All of Its consumers and Merchant in Managing Their Business.
- Graph Ventures is Also Looking For Future Opportunity To Works With NayaPay Teams in their Future Products and Growing their Audience.
Finally CEO NayaPay CEO Danish Conclude in These Words
“Customer trust is a key pillar of any platform’s success.”
He Further Said That We Are Working to Made the Life of Both Consumer and Merchants Easy and Simple.
Danish Also Said that NayaPay Also going to Collaborate with Different Banks in Pakistan For the Convenience of its Consumers eventually leading to a full digital banking experience.
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