In recent news, a Pakistani fintech startup called Taro Technologies has raised $3.5 million in pre-seed funding through multiple partnerships and angel investments. The startup mainly concentrates on a Buy-Now, Pay Later business model where Taro accelerated its influence through its collaboration with Dubai-based BNPL providers hyper-focused on instant point-of-sale investing for e-commerce and in-store transactions called Cashew Payments.
In regards to this strategic partnership, the CEO of Taro Technologies and former Apple engineer, Mustafa Khan, stated the following, “Our collaboration with Cashew provides critical insights into risk, merchant acquisition, operations, and customer retention. Those insights paired with support from their experienced and accomplished leadership team position us for a strong launch and to quickly dominate the market.”
Taro Technologies Will Work on ‘Buy now, Pay later’ Solutions in Pakistan
Furthermore, CEO of Cashew Payments, Ammar Afif stated that they are thrilled to partner with Taro Technologies, in delivering ‘Buy now, Pay later’ solutions for retailers and customers in Pakistan. As they have expanded their business in the GCC, they recognize the demand for retailers in Pakistan to have a seamless method of presenting flexible payment alternatives to customers in multiple enterprises. Through their collaboration with Taro, all merchants in Pakistan can soon rapidly activate Taro’s installment payments for customers across all channels online and offline.
Read more: Ed-Tech Egyptian Startup Orcas Now to Expand its Services to Pakistan
The Pakistani Fintech Startup is Building Core Team for Successful Launch
Mustafa further added in regards to the Q1 proceedings, “To prime our Q1 launch, we’ve also been busy on the ground in Lahore hiring a talented core team with significant fintech expertise. Along with our core team, we’ve arranged partnerships with local financial and technical firms that will ensure a strong and successful launch.”
The main aim of the Pakistani fintech startup, Taro Technologies is to deliver new forms of credit to all citizens of Pakistan which would accelerate the sales and widespread market reach of the retailers. With recent raised pre-seed funding, the startup further intends to deliver the underbanked through their respective product. This also extends to increased access to e-commerce outlets.
Source: TechJuice
