KalPay, a leading Buy Now Pay Later fintech service provider in Pakistan adhering to Shariah principles, has recently concluded an undisclosed early-stage funding round as it achieves profitability, as per a press release issued on Tuesday.
The investment round at its early stage was spearheaded by Orbit Startups and saw participation from institutional investors such as Super Capital VC, Bansea, Sabr Capital, along with distinguished angel investors like Yaser Alghamdi, among others.
Strategically positioning itself as an innovator in the consumer lending sector, KalPay offers accessible credit aligned with Shariah principles to individuals across Pakistan.
Expressing gratitude to investors and partners, Shershah Hassan, Founder & CEO of KalPay, remarked, “I am immensely grateful to our exceptional investors and partners.”
“Their confidence in our vision is pivotal to our achievements. With their backing, we’ve been able to positively impact numerous individuals and households throughout Pakistan,” he added.
Established in 2021, KalPay has emerged as the foremost fintech solution provider in Pakistan, according to its website.
The company provides customers with convenient payment options for purchasing productive assets like smartphones and accessing skill development services.
Through KalPay, customers can make purchases instantly and repay in three equal monthly installments using cards, wallets, or bank transfers, without incurring any interest or additional fees.
Alongside its expansion in the e-commerce sphere, KalPay has introduced new verticals such as KalPay Rasayi and KalPay Taleem, extending its BNPL services to the acquisition of productive assets like smartphones and facilitating fee payments for educational and skill development services.
KalPay aims to democratize easy, hassle-free, and Shariah-compliant credit access for the underbanked population across Pakistan.
