According to a statement by Neem’s co-founder, Vladimira Briestenska, the funds will be utilised to enhance Neem’s Banking-as-a-Service technology and platform. However, it also has one of the lowest financial services penetration in the region.” With low financial services penetration and increasing digitisation, organisations like Neem play a vital role in promoting economic growth and financial stability. The startup takes pride in being the first financial services firm in the country to issue sustainable and environmentally friendly debit cards. Startup investment specialist Kapeel Kumar emphasised the potential benefits of this partnership for the fintech space in Pakistan. He stated, “First, it will help to raise the profile of Pakistani fintech companies on the global stage.

Source: The Express Tribune June 27, 2023 22:05 UTC