Finja has sold its operations to OPay, a leading global fintech platform.
Finja was considered the pioneer startup and fintech operator that began its operations in 2021. It obtained dual licenses from the State Bank of Pakistan (SBP) for digital wallets and SMEs lending from Security and Exchange Company.
The operator made headlines and attracted investors’ attention. In 2022, it received the capital injection of its $10 Million Series A2 financing round, with participation from notable investors, including Sturgeon Capital and HBL.
Prior to its EMI license, Finja in partnership with FINCA Microfinance Bank launched SimSim, a mobile payment platform, to facilitate customers for transactions of money.
In 2023, its management took a surprising decision to sell its operations to OPay and the deal was finalized recently after a year. Besides Finja, various EMIs have exited from Pakistan’s market recently a few of them even without launching operations.
This strategic acquisition marks a significant milestone for OPay as it expands its global footprint and strengthens its position in the burgeoning Pakistani fintech market.
