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AdalFi, the Pakistani fintech, secures a whopping $7.5mn to take on lending obstacles!

Breaking news from Pakistan! Digital lending platform AdalFi secures a massive $7.5 million in funding from a group of investors led by UAE-based COTU Ventures and Chimera Ventures, along with Pakistani-based Fatima Gobi Ventures and Zayn Capital, and a team of influential “angel” investors including executives from US fintech giant Plaid.



 

This is the first major corporate financing announcement in the country for the year, and comes as Pakistan battles an ongoing economic crisis.

 

Despite a challenging financial climate, AdalFi is leading the charge in startup funding, bucking the trend of declining investments in the region.

 

AdalFi has revolutionized the financial sector in Pakistan by leveraging proprietary technology to help banks tap into a vast, untapped customer base.

 

With only 30% of adults in the country having access to formal banking services, AdalFi’s B2B2C fintech platform is making waves by enabling personalized digital marketing to qualified prospects and real-time loans to bridge the gap.

 

Traditional banking institutions often have long lead times for loan disbursements, which can force consumers to turn to informal credit markets.

 

AdalFi is changing this narrative by reducing loan processing times to just a few minutes, making credit available to a broader spectrum of society.

 

With 14 financial institutions already signed up, including the likes of United Bank Limited (UBL), Habib Bank Limited (HBL), and Meezan Bank, AdalFi is the go-to platform for loan disbursement in Pakistan.

 

Co-founder and CEO Salman Akhtar notes that AdalFi’s rigorous credit scoring mechanism ensures portfolio quality, which is why banks have signed up with them.

 

The platform monetizes by taking a share of the revenue generated by the bank from the loan, while also sharing the downside risk of non-performing loans.

 

AdalFi’s approach to banking is unique and ensures that financial inclusion is no longer just a pipe dream in Pakistan.

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