In a groundbreaking move poised to reshape the landscape of Fast-Moving Consumer Goods (FMCG) finance in Pakistan, Finja, the country’s leading non-banking financial entity (NBFC), has entered into a strategic partnership with Vizpro, a pioneer in digitizing collections for FMCG distributors through its dynamic platform, Vizlink.
This collaboration marks a significant step towards revolutionizing financial services in the FMCG sector, introducing Sharia-Compliant digital merchant finance to distributors and merchants within the Vizpro ecosystem. The strategic alignment between Finja and Vizpro aims to foster business growth, streamline cashflows, and contribute to the overall digital transformation of Pakistan’s financial landscape.
Under this partnership, Finja will seamlessly integrate its cutting-edge Islamic digital credit solutions as a financial plug-in within the Vizpro app, Vizlink. This integration empowers merchants in the Vizpro ecosystem to easily apply for and access Finja’s proprietary financial services, providing a seamless experience for users.
Qasif Shahid, CEO and Co-Founder of Finja, expresses enthusiasm about this collaboration, highlighting the impact it will have on the financial ecosystem: “At Finja, we believe in partnerships that enhance the financial ecosystem for all stakeholders. This initiative will not only empower merchants financially in the FMCG sector but will also contribute to the overall digital transformation of Pakistan’s financial landscape.”
Finja’s track record of collaborative partnerships, including those with FMCG principals and distributors, has created a robust supply chain-led financing ecosystem, positively impacting Small and Medium-sized Enterprises (SMEs) across over 35 cities. The company has already provided over PKR 12 Billion in 200,000 loans, empowering more than 30,000 MSMEs.
Akbar Ayub Khan, CEO and Co-Founder of Vizpro, sheds light on the strategic significance of the collaboration: “Our partnership with Finja represents a strategic alignment of our goals towards creating a seamless mobile financial service ecosystem. Islamic digital merchant finance has been a key gap in this ecosystem, and this collaboration will provide the much-needed solution, paving the way for other financial institutions to follow suit.”
Vizpro, a pioneer in digital payments targeting unbanked merchants, has played a crucial role in enabling them to become key players in the financial ecosystem. Its robust platform, Vizlink, aims to transform the retail supply chain, and strategic partnerships like the one with Finja contribute to achieving this goal.
This collaboration between Finja and Vizpro signifies a significant stride towards creating a more inclusive and digitally-driven financial ecosystem in Pakistan. By combining their strengths, these industry leaders are set to redefine how financial services are embedded within FMCG and other supply chains.
As Qasif Shahid aptly puts it, “We’re not just partners; we’re enablers of progress. Together with Vizpro, we are shaping the future of embedded digital finance in Pakistani business supply chains.” Stay tuned as Finja and Vizpro lead the way in transforming FMCG finance and contributing to a more vibrant and inclusive financial landscape in Pakistan.
