We're delighted to announce that we have raised a seven-figure investment round from the leading global financial technology platform company, Stripe alongside other local and international investors to embark on our next chapter. You can read more in the local Pakistani press here, and for regional press here for quotes from Ziyad, Raza and Stripe.
However, we'd like to use this post to provide a more personal announcement and thanks.
Safepay launched in 2019 with a vision to accelerate the adoption of digital payments in Pakistan by targeting a wave of entrepreneurs wanting to accept online payments from their customers.
Standing by what we have said earlier, creating a startup is difficult. A startup in fin-tech is that much more challenging because of areas such as regulation, security and the need for capital. In order to raise funding to really enter this market, we worked on a smaller/ testing stage scale — most of you reading this would have interacted personally with us. Without your adoption, feedback and referrals we would never have been able to achieve the organic growth to reach this stage. Importantly, it has inspired us as to what to build for the future to increase digital payments and commerce in Pakistan. We are working earnestly towards that future by building our team and working with the right financial partners.
Six months after having completed acceleration as part of Y Combinator’s Summer 2020 batch, we are now backed by leading names, including Global FoundersCapital, HOF Capital, Soma Capital, Mantis Capital, Fatima Gobi Ventures and Stripe. Most of these funds have never invested in Pakistan previously and we are very excited to have them onboard.
Furthermore, credit has to be provided to the brilliant crop of startups and entrepreneurs that have emerged from Pakistan over the last few years. In particular, the NEST I/O team in Karachi through hosting events like Disrupt 021 and their genuine passion for the startup ecosystem in Pakistan have helped break down many barriers for investors taking Pakistani startups seriously. We look forward to the continued mentorship of Jehan and the team to achieve the heights that we aspire to!