30/11/2023
Finja partners with Vizpro to extend its Digital Credit services to the FMCG Segment!
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In a groundbreaking move, Finja, Pakistan's leading non-banking financial entity (NBFC), has signed a strategic partnership with Vizpro, a pioneer in digitizing collections for Fast-Moving Consumer Goods (FMCG) distributors through its dynamic platform, Vizlink. This collaboration is poised to revolutionize the landscape for distributors and merchants in the FMCG sector by offering Sharia-Compliant digital merchant finance, fostering business growth.
Aligned with the visions of both entities, Finja will deliver cutting-edge Islamic digital credit solutions to merchants within the Vizpro ecosystem, facilitating digital payments through Vizlink.
Under this partnership, Finja will seamlessly integrate as a financial plug-in within the Vizpro app, Vizlink. This integration will empower merchants in the Vizpro ecosystem to easily apply and access Finja's proprietary financial services, streamlining their cashflows and stimulating business growth.
Qasif Shahid, CEO and Co-Founder of Finja expresses enthusiasm about this collaboration: "At Finja, we believe in partnerships that enhance the financial ecosystem for all stakeholders. This initiative will not only empower merchants financially in the FMCG sector but will also contribute to the overall digital transformation of Pakistan's financial landscape."
Finja has been at the forefront of fostering collaborative partnerships, including with FMCG principals and distributors. These partnerships have created a robust supply chain-led financing ecosystem, impacting SMEs across 35+ cities. To date, Finja has provided over PKR 12 Billion in 200,000 loans, empowering more than 30,000 MSMEs.
Akbar Ayub Khan, CEO and Co-Founder of Vizpro shares insights on the collaboration: "Our partnership with Finja represents a strategic alignment of our goals towards creating a seamless mobile financial service ecosystem. Islamic digital merchant finance has been a key gap in this ecosystem, and this collaboration will provide the much-needed solution, paving the way for other financial institutions to follow suit."
Vizpro is a pioneer in the space of digital payments, targeting unbanked merchants and enabling them to become key players in the financial ecosystem. Its robust platform Vizlink aims to transform the retail supply chain and it has already established several strategic partnerships including the one with Finja. Vizpro’s in-depth understanding of the distribution model, a strong presence in the retail ecosystem, and making FMCG distributors’ collections cashless have enabled it to transform the retail supply chain, driving efficiency and transparency.
This collaboration between Finja and Vizpro is a significant stride towards creating a more inclusive and digitally-driven financial ecosystem in Pakistan. By combining forces, these industry leaders are set to redefine how financial services are embedded within FMCG and other supply chains.
As Qasif Shahid aptly puts it, "We're not just partners; we're enablers of progress. Together with Vizpro, we are shaping the future of embedded digital finance in Pakistani business supply chains."
Founded in 2016, Finja is backed by leading global venture capital firms such as VEF, BeeNext, Quona Capital, ICU, Sturgeon Capital, Gray MacKenzie, and HBL. As the only fintech company in the country with multiple licenses and approvals from the Securities & Exchange Commission of Pakistan, Finja holds a commercial operating license as an NBFC (Non-Banking Finance Company) and approval to operate P2P Lending (Peer-to-peer lending platform).
Read More: https://startuppakistan.com.pk/finja-and-vizpro-collaborate-to-extend-digital-credit-services-to-the-fmcg-sector/
