Digital lending start-up, Finja, has secured additional investment in its Series A funding round from Habib Bank Limited (HBL), Pakistan’s largest commercial bank. HBL joins other fintech funds including BeeNext, Vostok Emerging Finance, Quona Capital, and ICU Ventures in supporting Finja’s growth.
All investors from previous rounds have increased their investments in this latest financing round. HBL highlights that its investment in Finja aligns with two of the bank’s strategic priorities: advancing digital financial inclusion and transforming HBL into a “technology company with a banking license.”
Finja, which has already disbursed over 50,000 digital loans to micro, small, and medium-sized enterprises (MSMEs), aims to bridge the credit gap faced by small businesses in Pakistan. These businesses, despite being the backbone of the economy, have long struggled to access the necessary funding for growth.
Qasif Shahid, CEO and co-founder of Finja, expressed excitement over HBL’s participation in the funding round. He highlighted the company’s success in digitally scoring undocumented small businesses, noting a 64% month-on-month portfolio growth since the pandemic began. Shahid emphasized that HBL’s financial strength, broad network, and progressive leadership would support the growth of Pakistan’s most vital business sector—SMEs.
Muhammad Aurangzeb, President and CEO of HBL, acknowledged the importance of loans for Pakistan’s economic development. He stated, “We are pleased to invest in Finja as Pakistan’s fintech landscape holds immense opportunities. This investment not only supports the start-up ecosystem but also positions Pakistan to take a larger role in the global fintech space.” Aurangzeb also emphasized that SME lending is the future and that Finja, with its first-mover advantage, is well-positioned to lead the market in digital SME lending.
