DigiKhata, one of country’s leading e-ledger and FinTech platforms, has joined hands with Kuunda, a UK-based FinTech, with the aim to extend liquidity solutions to millions of micro and small businesses that actively use the DigiKhata App.
These MSME businesses can now access real-time transactional liquidity products, working capital loans and other tailored growth financing products across the country.
DigiKhata has successfully supported the digitization of 4.5 million MSMEs in Pakistan through the DigiKhata app. It is a simple, secure, innovative, and free bookkeeping and accounting application helping businesses record daily transactions on-the-go.
In Pakistan, Kuunda is a joint venture between Kuunda Holdings and financial wellness pioneers, Neem. Kuunda Holdings, with its global footprint, has provided financial access to loans for more than $200 million of loans to 170,000 informal agents and retailers across the globe.
Neem is focused on providing financial wellness via embedded financial services products to underbanked communities in Pakistan.
DigiKhata merchants will now be able to continue carrying out airtime top-ups throughout the day, even if their wallet balance is zero. The real-time transactional liquidity product will allow merchants to serve more customers and increase their income potential.
Speaking on the occasion, Bilal Anjum, Co-Founder & COO of DigiKhata Pvt. Ltd., said, “Digitization of business operations for micro, small and medium-sized local businesses in Pakistan at scale is a new concept.”
“There have been a lot of factors that have limited small businesses from embarking on their digital enablement for some time now. However, DigiKhata endeavors to accelerate this journey for local merchants in Pakistan and optimize the efficiency of their businesses, as well as meet their financial needs with innovative FinTech solutions,” he added.
Jalal ul Haq, CEO Kuunda Pakistan, said “Over the past few decades, financial institutions have had measured success when trying to cater to the needs of those at the bottom of the pyramid. Now, with the advent of technology, innovative financial products, and instant flow of funds digitally, the ability to achieve impact at scale is a realistic goal.”
DigiKhata and Kuunda Pakistan endeavors to extend a complete suite of financial products to nearly two million micro, small, and medium-sized enterprises and business owners across Pakistan over the coming months.