In an industry first, Finja Lending Services recently announced its partnership with Leopards Courier Services to digitize the complete credit collection process for the Karyana segment.
Despite being a backbone of the economy, these local small businesses remained largely underserved by the incumbents. As a result, this segment has been in a dire need of credit to optimise their sales cycle and achieve business growth.
Mr. Kamran Zuberi (CEO FLS) remarked, "In a short span, we have crafted relationships with over 5,000 merchants in multiple cities and have extended short term digital credit of over Rs 500 Million to this segment at the back of our NBFC (Non-Banking Financial Corporation) status. FLSL has helped more than 10,000 retailers by providing them digital credit to grow this important key player in the value chain. Digitizing collections will be a secure and convenient process for these businesses."
Mr Hasan Mubarak (Head of Collections & Alliances) added, “Finja strongly believes in building a platform based business and growing through collaborations. LCS will be an important partner for us on multiple levels while we go out and digitize the lending and supply chain ecosystem for Karyanas across Pakistan. This is just a start to a multi-pronged engagement between Finja and LCS.”
Mr. Muhammad Ammar Bin Anwar (Head of Operations - ECommerce LCS) stated "LCS being the company that always encourages new technology and innovations signed the groundbreaking agreement and became the first Courier & Logistics Management firm to provide such an innovative service in the industry. LCS being the top player in the e-commerce market has already taken various steps to set new milestones in the industry by having an auto sortation machine, their own branded cargo plane and providing high quality Warehousing and Distribution solutions to e-commerce businesses in Pakistan."
Mr. Jaffar Hussain (Zonal Head Lahore - LCS) quoted "LCS using their largest delivery network in the Courier and Logistics Management Industry in Pakistan, providing recovery services for the amount credited by FLS to their merchants. Initially the service started in Lahore and now expanded to 12 other cities of Pakistan. Soon we will be expanding the services to other parts of the country".
An agreement has been signed between Leopards Courier Services and Finja Lending Services.
With both entities being fully committed to digitizing the complete supply-chain ecosystem in the country, this is the first time that a courier service is collaborating with a local fintech as a digital lending partner using this association as a catalyst to elevate the country’s most important segment.
FINJA, founded in 2016, is backed by leading global venture capital funds including Swedish - Vostok Emerging Finance, BeeNext, a Japanese VC firm and Quona Capital from the United States of America. It is the only fintech in the country to have acquired an in-principle EMI commercial pilot approval from the State Bank of Pakistan and a NBFC license from the Securities and Exchange Commission of Pakistan.
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