Pakistan-based FinTech platform JazzCash and Pakistan’s venture capital (VC) company Fatima Gobi Ventures (FGV) have announced a strategic partnership that is poised to have a massive impact on advancing the growth of startups and budding businesses in the country.
The duo said in a statement on Friday that this mutually beneficial partnership will see JazzCash catalyze FGV’s existing and future portfolio companies by onboarding these companies onto its platform, which is serving over 44 million users, over 300,000 merchants, and over 900 businesses with a nationwide network of 230,000 agents.
Through this, FGV portfolio companies will be able to tap into JazzCash’s massive network for potential collaboration and expansion opportunities.
As a part of the first phase of this partnership, JazzCash will venture into travel tech, e-commerce, and fintech by onboarding FGV’s investee companies namely Abhi, PriceOye
Each of these companies has proven market leadership in their respective fields.
According to the statement, this partnership is expected to provide a head start for promising startups but also benefit the broader financial technology sector in the country.
It also serves as a compelling example of the power of collaboration in catalyzing innovation and growth.
Formerly known as MobiCash, JazzCash is a mobile wallet, mobile payments, and branchless banking services provider.
As of October 2023, the firm has a market share of 54 percent.
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