3 Digital lending FinTechs in Pakistan making credit more accessible

By Leandra Monteiro

In Pakistan, about 80% of the population has access to a smartphone of sorts, making the country a fertile ground for FinTech growth. This has given a boost to the digital financial services industry in the country. Effective utilisation of technology has revamped the financial sector in Pakistan and helped the Asian country build its FinTech industry.

The following 3 important digital lending companies in Pakistan to keep a close eye on:

• CreditPer

CreditFix Financial Services Ltd is licensed by the Securities and Exchange Commission of Pakistan as a Non-Banking Finance Company. CreditPer is a brand by CreditFix Financial Services Ltd that offers a lending platform that does data-driven decision-making and assessment for individuals and small businesses with speed.

• Finja

Finja offers fixed-term loan facilities for its institutional clients (Startups, SMEs & Corporates) in order to address cash-flow/liquidity gaps in their monthly operational expenditures. The processes that the company employs have been designed to reduce barriers and promote financial inclusion.

Finja offers fixed-term financing for up to 30 days; the short-term nature of this facility allows businesses to address their working capital finance requirements as needed. All charges are calculated at the point of disbursement, in accordance with the specified loan tenor. Small ticket loans can be availed without any formal collateralization requirements, while larger credit facilities require formal collateral through regulations defined by the NBFC.

• Sarmaya Microfinance

Sarmaya Microfinance Private Limited is a Microfinance Institution in Pakistan, that offers a wide range of innovative financial services by leveraging advanced technology, enabling customers to access financial services instantly anytime, anywhere.

Sarmaya Microfinance primarily focuses on micro-entrepreneurs in view of developing their micro and small businesses on a sustainable basis. At a broader level Sarmaya Microfinance taps into the frequent credit needs of middle and lower middle class by offering instant credit & cash as and when needed.

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