Finja, a leading fintech in Pakistan, announces its frustration regarding the failure of Opay International PTE. LTD. to clear outstanding payments following the sale of the EMI License to the latter, effective October 2, 2023.
Finja specializes in providing AI/ML-backed accessible financing exclusively to underserved SMEs. Finja has facilitated over Rs. 12 Billion in financing, benefiting over 28,000 SMEs across 35 cities, 10% of it being through Finja Invest, the country’s only Peer-to-peer financing platform. Unfortunately, Opay’s failure to pay has had severe consequences not only forcing Finja to temporarily slow down operations and reduce staff but also stifling Finja’s exemplary financing practices which have proven to be a national-interest success story through solely targeting the SME market and staying clear from all categories of consumer lending including predatory micro/nano lending.
In light of OPay’s continuous mistreatment of Finja, formal letters have been sent to SBP and SECP, urging their continued support in facilitating a fair resolution.
We would be happy to take interviews with media outlets to elaborate on our claims and the ordeal that we are facing.
We wish to reassure our clients that despite the ongoing challenges, their investments remain secure with Finja.
In closing, we would like to thank the ecosystem and the industry for all the support that we are receiving, and the role that the regulators and the government are playing in resolving the matter.
About Finja:
Finja specializes in SME-focused, Shariah-compliant, purpose-built, closed-loop supply chain financing through its own AI/ML-backed proprietary tech.
For more information, please reach out at:
+92 340 0006754
