Finja, founded in 2016, began as a mobile wallet and has evolved into a digital lending and payments platform serving professionals, merchants, and SME businesses. The company offers lending and payment services to micro SMEs (primarily grocery stores) and salaried professionals, and it enables corporates to manage business payments, payroll, vendor relations, and employee salary-advance requests via its mobile app. Finja also offers credit to salaried professionals outside its network through a product called Finja Credit Line. The platform positions itself to enable digital interactions across the supply chain and payments ecosystem. Management intends to use the new capital to scale product and marketing efforts and to build new lending portfolios. Founders include Qasif Shahid, Monis Rahman, and Umer Munawar. Finja is a Pakistani fintech startup best known for its SimSim mobile wallet. SimSim enables peer-to-peer payments, QR-code merchant payments, an e-commerce marketplace, bill payments and mobile top-ups. The application is offered with zero transaction fees to accelerate digital payments in Pakistan. Since going live a few months ago, SimSim has doubled mobile wallets every month and reached 80,000 accounts. The app has processed more than Rs. 1.5 billion in transactions to date. The State Bank of Pakistan granted SimSim commercial launch approval after a multi-month pilot, positioning the company to scale further. Finja is a newly established fintech company in Pakistan focused on offering innovative financial services to the country’s rapidly growing digitally literate population by displacing cash. The company targets Pakistan’s 180mn+ under‑banked population and expects to benefit from rapidly growing 3G/4G smartphone penetration and a progressive regulatory framework. Finja was founded by tech- and banking industry veterans Qasif Shahid, Monis Rahman and Umer Munawar. The business strategy centers on digital financial services to drive adoption away from cash among under‑banked users. Its current disclosed financing position includes an institutional investment that provides minority ownership and board representation. The company is positioned as an early-stage venture seeking to scale in Pakistan’s emerging fintech market.

Total raised

$12M

Funding rounds

3

Latest round

Series A

Latest activity

Dec 2020