JazzCash and Fatima Gobi Ventures Partner to Nurture Pakistani Startupsby Fintech News Singapore November 17, 2023
JazzCash, a Pakistani-based mobile wallet and branchless banking services provider, will be collaborating with Fatima Gobi Ventures (FGV) to nurture the growth of local startups.
FGV leverages conglomerate Fatima Group’s local expertise in Pakistan and Gobi Partners‘ extensive experience in Asia to invest in promising startups and foster community growth. Gobi Partners and FGV have invested in over 400 companies and nurtured nine unicorns collectively.
Through this partnership, JazzCash will onboard FGV’s portfolio companies onto its platform, which serves over 44 million users, over 300,000 merchants, and over 900 businesses with a nationwide network of 230,000 agents.
This will provide FGV portfolio companies with access to JazzCash’s massive network for potential collaboration and expansion opportunities.
As part of the first phase of the partnership, JazzCash will venture into travel tech, e-commerce, and fintech by onboarding FGV’s investee companies namely financial wellness platform Abhi, marketplace for consumer electronics PriceOye and travel platform SastaTicket.
This partnership is expected to provide a head start for promising startups and also benefit the broader fintech sector in Pakistan.
Aamir Aftab, Chief Product Officer at JazzCash said,
“At JazzCash, entrepreneurship and innovation are at the heart of what we do. Our partnership with Fatima Gobi Ventures embodies our commitment to fostering growth for startups by giving them the tools, resources, and network they need to thrive. We look forward to creating a dynamic ecosystem that benefits businesses, consumers, and the overall economy.”
Jamaludin Bujang, General Partner at FGV said,
“This partnership marks a significant leap in advancing digital innovation in Pakistan. Together, with JazzCash, we aspire to elevate the startup ecosystem and bolster promising ventures on their journey to growth.”