OPay, a leading global fintech platform, has acquired Finja’s operations. When it launched in 2021, Finja was a leading startup and operator in the financial technology space. It secured two licenses from the SBP: one for digital wallets and one for small and medium enterprise lending through the Security and Exchange Company.
Investors took notice of the operator when he made headlines. The company raised $10 million in Series A2 funding in 2022 from illustrious investors like Sturgeon Capital and HBL.
Finja and FINCA Microfinance Bank collaborated to create SimSim, a mobile payment platform, to help clients with money transactions before Finja got its EMI license.
In 2023, its management made the unexpected choice to sell its business to OPay, and a year later, the acquisition was completed. Not only Finja, but a number of other EMIs have recently pulled out of the Pakistani market, some without even starting out.
As it grows its business internationally and establishes its place in the rapidly developing Pakistani fintech industry, OPay has reached a major milestone with this strategic acquisition.
