SadaPay
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| Company type | Private |
|---|---|
| Industry | Financial technology |
| Founded | 2019 |
| Founders | Brandon Timinsky |
| Headquarters | Islamabad, Pakistan |
Area served | Pakistan |
Key people | |
| Products | Debit cards, Digital wallet |
| Parent | SadaPay Technologies Ltd. |
| Website | sadapay |
SadaPay is a digital wallet[1][2] fintech startup based in Pakistan. The startup was founded by Brandon Timinsky.[3] Waqar Masood Khan, Pakistan's former finance secretary, was appointed the chairman of the board.
History[edit]
In April 2020, SadaPay was granted the in-principle approval by the State Bank of Pakistan (SBP) for an Electronic Money Institution license.[4] In December 2020, SadaPay was granted the pilot launch approval by the SBP to officially begin its pilot operations.[5] In April 2022, SadaPay was awarded a commercial license by the SBP.[6]
In May 2024, SadaPay was acquired by the Turkish fintech company Papara.[7][8]
Funding[edit]
In March 2021, SadaPay announced raising US$7.2 million funding in a seed round.[9]
In April 2022, SadaPay raised US$10.7 million in a seed-extension round.[10][11]
Partnerships[edit]
In March 2020, SadaPay signed a memorandum of understanding with the Punjab Information Technology Board to assist eRozgaar freelancers.[12]
In May 2020, SadaPay announced an exclusive partnership with Mastercard.[13] In February 2021, SadaPay and Mastercard collaborated to introduce the first numberless and contactless-enabled card to Pakistan.[14]
References[edit]
- ^ Hassan, Taimoor (5 February 2020). "SadaPay, another mobile wallet, aims to disrupt local banking". Profit by Pakistan Today.
- ^ "SadaPay to offer online payments through MasterCard network, international deposits". The Nation. 6 February 2020.
- ^ "Pakistan's Sadapay raises $10.7m to launch financial services". Ripples Nigeria. 22 April 2022.
- ^ Paracha, Zubair Naeem (27 April 2020). "Pakistani fintech SadaPay gets in-principle approval from country's central bank to launch mobile wallet". MENAbytes.
- ^ "Pakistani Fintech SadaPay earns pilot launch approval from SBP". Business Recorder. 16 December 2020.
- ^ "SadaPay gets regulatory approval from State Bank". The Nation. 22 April 2022.
- ^ "Turkish fintech firm Papara acquires Pakistan-based SadaPay". Daily Sabah. 30 May 2024.
- ^ Siddiqui, Salman (1 June 2024). "Turkish fintech buys SadaPay". The Express Tribune.
- ^ Bhatti, Eleazar (31 March 2021). "Pakistani fintech SadaPay raises $7.2m in seed round". Profit by Pakistan Today.
- ^ "Pakistan's Fintech SadaPay Raises Funds Ahead of Mass Rollout". www.bloomberg.com. Bloomberg L.P. 19 April 2022.
- ^ Kapron, Zennon (21 July 2023). "South Asia Ex-India's Burgeoning Fintech Opportunities". Forbes.
- ^ "PITB, SadaPay join hands to facilitate 'eRozgaar freelancers'". Profit by Pakistan Today. 13 March 2020.
- ^ "SadaPay, Mastercard collaborate to simplify digital payments in Pakistan". Profit by Pakistan Today. 4 May 2020.
- ^ "SadaPay, Mastercard launch virtual card in Pakistan". The Express Tribune. 15 February 2021.
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- 2024 mergers and acquisitions
- Companies based in Islamabad
- Financial services companies established in 2019
- Financial technology companies
- Internet properties established in 2019
- Pakistani brands
- Pakistani companies established in 2019
- Electronic funds transfer
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