Pakistan’s Keenu Eyes IFC Backing as Startups Raise Record Funds
- IFC board to consider the investment proposal by end of August
- Keenu is only non-bank in Pakistan POS payments space
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Wemsol Pvt., known as Keenu, is looking to raise as much as $5 million from the International Finance Corporation that would extend a record fundraising spree by Pakistan’s startups.
The Karachi-based company, which provides point-of-sale debit and credit card machines, will use the money to expand its network, Chief Executive Officer Syed Ejaz Hassan said in an emailed reply. The company is also planning to create consumer and merchant wallets and will seek a license from the central bank, according to Numero Advisors, arrangers to the transaction.