Lahore, May 19, 2023: Forbes announced its 8th Annual “30 under 30 Asia” List featuring 30 notable honorees across 10 different categories: Co-founders of Pakistan’s leading Shariah-aligned consumer financing startup – KalPay, Shershah Hassan and Waleed Amjad Islam, were selected for the prestigious list in the Finance and Venture Capital category.
These young entrepreneurs are making waves in major industry segments within the Asia-Pacific Region, including art & style, education, social impact, enterprise technology, and finance, etc.
Founded in 2021, KalPay has now become the largest Shariah-aligned buy now pay later fintech startup based out of Lahore. KalPay is working with hundreds of e-commerce merchants across multiple product and service categories to provide BNPL services for their customers. Customers can buy their favorite products right away and pay in three equal monthly installments using cards, e-wallets and bank transfers without any interest or extra charges.
While expanding in the e-commerce space, KalPay has also launched new verticals including KalPay Rasayi and KalPay Taleem, offering its BNPL services on purchase of productive assets like smartphones and fee payments for education and skill development services. With a strong focus on creating a positive impact in the society, the startup intends to make easy, hassle-free and Shariah-aligned credit accessible to the under-banked masses across Pakistan.
Through partnerships with Pakistan’s largest tech enablers such as Careem, Foodpanda and renowned B2B financial lenders such as Muawin, KalPay is working towards creating a thriving ecosystem of financial inclusion for individuals and enterprises through capital financing.
Shershah Hassan, CEO of KalPay, stated “When we started working on the idea of KalPay, I could never have imagined the magnitude of impact that we would be able to create. With a long way to go still, we are glad to play our part in helping bring financial inclusion and awareness for the underbanked population of Pakistan. Here is to hoping we continue to thrive and make a positive impact and make KalPay a Pakistani fintech unicorn!”
Waleed Amjad Islam, COO of KalPay, added “The BNPL concept is still fairly new in Pakistan due to the lack of financial awareness. Our goal here is to give the masses access to credit that enables them to succeed. We’re focused on providing tech-based productive assets and educational loans and hope it brings about the positive impact we’re aiming to create.”
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