Pakistan Fintech Startup Loan Package Provides Seed Funding for Loans to Non-Banks, Round led by Inspector Partners



This landmark transaction marks Insitor Partners’ first investment in Pakistan and the first ever international convertible credit line in Pakistani history.

SINGAPORE, 28 June 2021 / – Creditfix, a Pakistani fintech startup, announced that they have received an undisclosed amount of seed funding in a round led by venture capital fund Insitor Partners Pte. Ltd. A Singapore-based Impact Investment Company has confirmed that this is their first investment in Pakistan.

Pakistan remains one of the largest unbanked countries in the world; however, the fintech industry in Pakistan continues to grow rapidly. Startups like CreditFix are working to improve access to basic financial services in emerging markets.

This landmark deal marks the first of its kind in the Pakistani startup ecosystem, marking the first ever convertible loan financing from an international investor for a Pakistani company to be approved by the State Bank of Pakistan (SBP). Local investor ACT Group and High Net Worth Individuals are also involved in the unsecured convertible loan. The funding was announced on June 16, 2021 in Karachi in the presence of representatives from Creditfix, Insitor Partners, Deosai Ventures and ACT Group. Creditfix also receives help from StratLink, a financial advisory firm focused on emerging markets.

In 2018, more than 100 million people in Pakistan do not have access to banking services. Creditfix was founded in 2018 to offer traditional and Sharia-based lending solutions and financial services, particularly for micro, small and medium-sized enterprises (MSMEs). By introducing new technology such as artificial intelligence (AI) to lower operating costs of lending, Creditfix is ​​using its mobile app platform to guarantee and deliver productive, asset-backed loans ranging in value from $ 60 to $ 600.

Creditfix CEO and Founder Owise Zaidi highlights the importance of a deal structure that promises to open up more foreign funding opportunities in the Pakistani startup ecosystem:
“We are delighted to work with our investors who responsibly share our vision of profitability and are ready to demonstrate our Risk at Scale ™ concept in action in the Pakistani and East African markets.”

Hammad Umer, regional manager for Pakistan of Insitor Partners, a firm that is majority owned by women, said:
“We believe that CreditFix’s underwriting model can help change the way micro and small entrepreneurs and self-employed people are lending. Our goal is to open the way to cheaper, faster and more equitable access to finance for all walks of life. SBP was instrumental in making this deal possible by granting a special permit that sets the stage for more foreign convertible loan transactions in the future. We look forward to announcing additional investments in the ecosystem. “

Mr. Umer worked closely with Creditfix to implement a number of impact indicators and ESG frameworks to validate and track their progress.

Nicholas Lazos, Chief Investment Officer of Insitor, stated:
“Creditfix strengthens our long-term commitment to Pakistan and is the first of many new investments in successful business in the country. We are pleased to support a highly qualified team and their innovative approach to providing financial services to the general public. “

Sheriar Hidri, Managing Partner at Deosai Ventures, impressed by CreditFix technology:
“Creditfix is ​​the only fintech that combines a field-proven proprietary credit scoring model and technology platform with deep knowledge of consumer finance. Their team has a unique approach to the market and we are delighted to help them scale during this sector’s historic boom. ”

When it comes to financial inclusion in Pakistan, one of the most pressing issues is the gender gap, with Pakistan recently ranked 153 out of 156 in the ranking. The World Economic Forum (WEF) Report on the Global Gender Gap 2021. Creditfix spokesman and shareholder Mehvish Oways said:
“Our like-minded investors are strengthening Creditfix’s mission to empower women in Pakistan through job creation. Promoting responsible lending rates will pave the way for other fintech companies at home and abroad to do the same. ”

See more at:

Jackie Hawking
Insitor Partners
+65 8454 5945


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