NayaPay secures $13m as it rolls out digital payments

Weaver Fintech, HiL’s Mauritian financial services subsidiary, has purchased it. Through its FinChoice brand, Weaver Fintech offers personal financing, insurance, payments, and value-added services on digital platforms. It has now added PayJustNow to its list of acquisitions, acquiring an 85 percent ownership in the company.

With an emphasis on personal loans, insurance, and value-added services, Weaver Fintech’s investment in PayJustNow indicates Weaver Fintech’s entry into the payments industry while also providing funds for PayJustNow to continue its expansion strategy.

NayaPay is Pakistan’s first fintech, having just received the country’s first E-Money Institution license from the central bank, the State Bank of Pakistan. Its goal is to make financial services more simple and accessible to Pakistan’s millions of customers. With its two-sided platform for the underbanked, NayaPay aspires to be at the forefront of Pakistan’s digitalization.