Pakistani FinTech PayPro gets $46K funding from USAID

By Leandra Monteiro

Launched in 2019, PayPro, a Pakistani FinTech startup for business to business (B2B) and business to consumer (B2C) payments, announced today that it had received a grant amounting to $46K from USAID Small and Medium Enterprise Activity (SMEA), according to reports published by media.

The received funds are intended to help digitise micro, small and medium-sized enterprises (MSMEs) through the process of digital payments.

The funding will give PayPro the opportunity to further develop its marketplace platform for MSMEs with integrated digital business solutions. In order to enhance the user experience, the FinTech platform will include a merchant portal and a mobile wallet to ensure smooth management of finances and seamless transactions.

According to media reports, the FinTech’s chief executive officer, Ali Janjua, termed the grant “a testament to the efforts and the potential that the organisation has displayed since its inception. It bolsters our confidence to continue on our mission of transforming the digital financial infrastructure within the country”.

Janjua went on to add that digital finance had become a cornerstone for progressive economies, and emphasised the need for sustainable transactions, especially during the coronavirus pandemic. “As customers in Pakistan begin to accept the new normal, PayPro is making sure to provide them with the tools necessary to perform a diverse range of financial transactions,” the CEO shared.

The Pakistani FinTech is used by companies across several sectors such as agriculture, education, digital commerce, healthcare, hospitality, non-government organisations, real estate, insurance, and travel.

“With continuous onboarding of merchants, the ever-expanding digital ecosystem is being facilitated by PayPro in a way which will digitise the informal business segment and enable seamless integration for both businesses and customers,” said Janjua as per media reports.