Pakistani startup "Finja" raises $1 million in funding for a product to replace cash


LAHORE – A Pakistani startup Finja that relies on the financial technology model (Fintech) has

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successfully raised $1 million from Stockholm-based Vostok Emerging Finance for a product


that they hope will eventually replace cash.


Founded by seasoned individuals from banking and technology Qasif Shahid, Monis Rahman,


and Umer Munawar, Finja aims to introduce innovative financial services through the upcoming


launch of a mobile wallet product.


The innovators behind the idea aim to overpower existing services by focusing more on price,

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process and functionality of the service. Moreover, zero service charges for both


senders/receivers pins hope on the success of the idea.


Qasif Shahid, co-Founder and CEO of Finja said, “As Pakistanis continue to rapidly adopt digital


mediums, there is an opportunity to transform lives by reinventing business models and


removing friction through digital interventions.”


“This initial seed financing round will enable Finja to demonstrate the power of digital-by- design

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financial services and is just the beginning of our journey”, commented Monis Rahman, Co-


Founder and a board member of the company.


Finja will partner with a Micro-finance bank to roll out its mobile wallet by the end of current


year.

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