Pakistan’s SLG-Trax in Talks to Acquire Singapore’s Finova

Secure Logistics Group Limited (SLG-Trax), a top logistics and e-commerce provider in Pakistan, plans to acquire Singapore’s Finova Technologies. The company disclosed the decision in a filing to the Pakistan Stock Exchange (PSX) on Friday.

This acquisition could transform Pakistan’s digital payments and lending ecosystem, particularly within the rapidly growing e-commerce sector. The development comes soon after SLG-Trax’s subsidiary, LogiServe (Pvt) Ltd, secured an NBFC license from SECP on August 19, 2025.

The license enables LogiServe to provide digital services like COD-backed loans, invoice discounting, virtual merchant accounts, and a payment gateway.

In its public statement to SECP, PSX, and Finova’s management, SLG-Trax confirmed approval to begin negotiations.

The proposed acquisition, subject to due diligence and regulatory clearance, would give SLG-Trax full rights to Finova’s intellectual property.

Finova’s fintech platform has been in pilot use since February 2025 with SLG-Trax clients. It supported 1.2 million shipments, Rs 17 billion in wallet payments, and Rs 3.5 billion in lending throughput.

If the deal closes, SLG-Trax will formally launch NBFC operations in Q4 2025. The company will deploy Finova’s platform across 9,000 retail and 300 corporate e-commerce clients.

The acquisition is central to SLG-Trax’s strategy to scale its e-commerce services. Plans include merchant payment portals, lending systems, and an AI-powered credit engine.

According to the company, the integration would improve efficiency and profitability while opening global markets for Finova’s fintech software.