KalPay, a leading Shariah-aligned Buy Now, Pay Later fintech service provider in Pakistan, has recently concluded an undisclosed early-stage funding round, coinciding with its achievement of profitability.
The investment round, spearheaded by Orbit Startups and backed by institutional investors like Super Capital VC, Bansea, Sabr Capital, along with notable angel investors such as Yaser Alghamdi, underscores KalPay’s strategic positioning as a trailblazer in the consumer lending sector, offering accessible and Shariah-compliant credit solutions to individuals nationwide.
Expressing gratitude towards investors and partners, KalPay’s Founder & CEO, Shershah Hassan, emphasized their pivotal role in the company’s success, enabling significant impact on thousands of households across Pakistan.
KalPay empowers customers with a diverse array of products and services through its innovative Buy Now Pay Later (BNPL) platform. In addition to facilitating online shopping with merchant partners, KalPay has expanded its offerings with KalPay Rasayi and KalPay Taleem, extending BNPL services to cover financing for productive assets, educational expenses, and travel.
Reflecting on KalPay’s evolution, Shershah Hassan highlighted the journey from a simple idea to profitability, acknowledging the dedication of the team while emphasizing the vast potential ahead.
KalPay’s Chief Commercial Officer, Hasan Mubarak, hailed the achievement of profitability amidst challenging conditions, underscoring the substantial social and economic impact witnessed daily, which further fuels the company’s commitment to expanding outreach and serving underserved communities.
KalPay’s collaborations with industry leaders like Foodpanda, Careem, Bank Alfalah, and esteemed educational institutes like LUMS and UCP reinforce its dedication to providing convenient BNPL services, fostering financial empowerment and inclusion in collaboration with trusted partners.
Looking ahead, KalPay remains focused on enhancing its product portfolio, strengthening partnerships, and driving positive change in Pakistan’s financial technology landscape.
