Pakistan tech firm eyes raising Rs750mn via IPO - Business Recorder

Pakistan's Fintech Star, PayWise, Secures $2.5 Million Seed Funding to Power SMEs Lahore-based fintech startup, PayWise, has successfully closed a significant $2.5 million seed funding round led by prominent regional venture capital firm, Indus Ventures. This pivotal investment is poised to accelerate PayWise’s ambitious mission of empowering small and medium-sized enterprises (SMEs) across Pakistan with accessible and efficient digital payment solutions. Founded in 2022, PayWise addresses a critical gap in the market by offering an intuitive platform that simplifies online transactions, inventory management, and financial reconciliation for businesses often underserved by traditional banking systems. The new capital will be strategically deployed to expand PayWise’s operational footprint, enhance its technological infrastructure, and onboard a larger base of SMEs, particularly in underserved rural and semi-urban areas. "This funding marks a pivotal moment for PayWise and the broader Pakistani tech ecosystem," stated Ayesha Khan, CEO and Co-founder of PayWise. "We are incredibly grateful for Indus Ventures' confidence in our vision. This investment will enable us to scale our efforts, bringing greater financial inclusion and operational efficiency to millions of Pakistani small businesses, driving economic growth from the ground up." Indus Ventures' Managing Partner, Bilal Ahmed, commented on the investment, "PayWise demonstrates immense potential to disrupt and modernize the payment landscape for SMEs. Their robust platform and dedicated team are perfectly positioned to capitalize on Pakistan's rapidly digitizing economy. We believe PayWise will play a crucial role in fostering digital literacy and empowering entrepreneurs nationwide." The successful funding round for PayWise underscores the growing confidence of investors in Pakistan’s burgeoning startup scene, particularly within the fintech sector. It signals a promising future for local innovation and its capacity to address unique market challenges, paving the way for further investment and job creation in the country's digital economy.