From paper money to plastic money, people are moving towards digitized money. Now you all might be thinking what digitized money is.? Digital money means different things for different people, here it means the money that you have in an electronic wallet. Electronic wallets or digital money have been around for some while, however recently, a Pakistani FinTech startup has raised about 1 million dollars to finance and introduce Finja.
Launched in 2016, it is a mobile banking app which will bring new ideas about the concept of mobile wallet in Pakistan. Founded by veterans of the tech industry, Qashif Shahid, Umar Munawar and co-founder Monis Rehman, who are surprisingly quite young within the age bracket of 30 to 40 years. Finja aims to establish financial services that will help to escalate digital payment. The app promises minimum customer switching cost with maximum convenience of social networks.
As for the initial funding, a key role is being played by Vostok Emerging Finance, a company listed on the Stockholm Stock Exchange, David Nagle the company’s managing director will come on board as one of Finja’s board of directors and help the company with the funds extensive experience.
It aims to shift Pakistani consumers from analog to digital payments, through their expertise in business process management, digital banking, marketing, brand, retail management and e-commerce.