Pakistani startup Qisstpay raises $15 million in funds, plans South Asia expansion


QisstPay, a Pakistan-based buy now, pay later startup, has raised $15 million in funds as it plans to spread its wings to other countries of South Asia in the next six months.

MSA Capital led the funding round and it was also participated by Global Founders Capital, Fox Ventures, First Check Ventures and others, international media reported.

The Pakistani firm plans to expand its services to Sri Lanka and Bangladesh in coming months.

Bloomberg report said that QisstPay intends to include 1,000 more merchants in its portfolio by next month and increase its customers to one million by 2022.

At present, the startup serves “retailers including the local units of Samsung Electronics Co. and Xiaomi Corp.”.

The start-up was co-founded by former US citizen Jordan Olivas. “We want to be in all the places where people think it’s a tough place to start a business,” Olivas said as reported by Bloomberg.

QisstPay’s investors include “strategic angel investments from Simone Mancini and Johnny Mitrevski, founders of Scalapay, and the United Bank Ltd”.

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