PayPro, a fintech startup that pursues business to business (B2B) and business to consumer (B2C) payments, on Thursday the company had announced that it had received an innovation grant of Rs. 7.4 million from USAID Small and Medium Enterprise Activity (SMEA).
As per the press release from the company, the grant is to be utilized in establishing digitized micro, small and medium-sized enterprises (MSMEs) that are working towards initiating the process of digital payments.
Speaking on the event, Ali Janjua, the Chief Executive Officer of PayPro Pvt. (Ltd.) stated; “Digital finance has become the cornerstone for progressive economies as a strong reminder that in order to be sustainable, transactions have to be conducted through digital channels, especially with the COVID-19 pandemic in the equation. As customers in Pakistan begin to accept the new normal, PayPro is making sure to provide them with the tools necessary to perform a diverse range of financial transactions based on their day-to-day routine lives.”
PayPro has now achieved a professional level among the emerging fintech in Pakistan, providing its services to a number of industries such as agriculture, education, digital commerce, healthcare, hospitality, NGOs, real estate, insurance, and travel.
“As customers in Pakistan begin to accept the new normal, PayPro is making sure to provide them with the tools necessary to perform a diverse range of financial transactions,” the CEO shared.
The CEO also mentioned, “the USAID Small and Medium Enterprise Activity (SMEA) Innovation Grant is a testament to the efforts and the potential that the organization has displayed since its inception.”
Moreover, the press release stated, “With continuous onboarding of merchants, the ever-expanding digital ecosystem is being facilitated by PayPro in a way which will digitize the informal business segment and enable seamless integration for both businesses and customers”.
A similar achievement has also been acquired by another fintech startup, SafePay. As they also had managed to secure a seven-figure seed funding to promote the IT industry in Pakistan.