A Pakistani fintech startup hyper-focused towards business to business (B2B) and business to consumer (B2C) payments recently received a grant of nearly Rs 7.4 million from USAID and the Small and Medium Enterprise Activity (SMEA).
The startup, initially launched in 2019, is currently focusing on digitizing micro, small and medium-sized enterprises (MSMEs) that are looking to enable digital payments. According to the startup founders, the grant will truly help them in accelerating this process for the respective enterprises.
Furthermore, the fintech startup has processed approximately 70,000 transactions valued at more than one billion with nearly 430 merchants accepting payments through its services. PayPro aims to integrate digital commerce solutions for its platform which will include a merchant portal and mobile wallet.
Ali Janjua, the CEO of PayPro, considered the grant to be “a testament to the efforts and the potential that the organization has displayed since its inception”.
Ali Janjua further added that digital finance had become a cornerstone for progressive economies and highlighted the requirement of sustainable and secure transactions during these unprecedented times.
Currently, fintech provides its services to companies operating in numerous sectors such as agriculture, education, digital commerce, healthcare, travel, real estate, and more.
Similar startups operating in the fintech domain have been achieving milestones and making an impact globally as a startup called SafePay raised nearly seven-figure seed funding.
More startups in this area are expected to make a profound impact while bringing substantial changes in the finance sector.