Lahore-based Taro Technologies secures $3.5m in pre-seed funding.
Retailers can soon offer installment payment options to Pakistan’s consumers.
Startup intends to support consumer lifestyle needs with an aim to increase purchasing power and liquidity.
Lahore-based Taro Technology — an emerging Fintech startup in Pakistan, has secured $3.5 million in pre-seed funding through a combination of strategic partnerships and angel investors to launch a Buy-Now, Pay-Later (BNPL) venture in Pakistan.
The BNPL venture aims to help provide new forms of credit to all Pakistanis, especially the underbanked.
Taro Technologies, being the only Shariah-friendly BNPL Company in Pakistan, plans to provide flexible payment options and access to new forms of credit to Pakistani customers, while also enabling merchants (who are looking for more payment options) to grow sales and increase their market reach.
Pakistan’s e-commerce sector has seen a lot of growth in the last fiscal year of 2020-21, with a spend of around $7.2 billion.
Keeping the booming growth of the sector, Taro seeks to support consumer lifestyle needs with an aim to increase purchasing power and liquidity.
Retailers can soon quickly and easily offer Taro's instalment payment options to Pakistan’s consumers, both in-store and online.
According to a statement issued in this regard, as part of their pre-seed round, Taro has partnered with Dubai-based Cashew Payments – a BNPL leader in the Gulf Cooperation Council (GCC) – to...
Read Full Story: https://www.geo.tv/latest/394322-pakistani-shoppers-to-soon-enjoy-shariah-compliant-buy-now-pay-later-service
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