Pakistani fintech firm Neem has raised $2.5 million in seed funding to expand the reach of embedded finance — banking-like services offered by non-banks — to Pakistan’s underbanked communities, both individuals and businesses, per an announcement.
Neem is an embedded finance platform seamlessly delivering financial products and services to communities across diverse sectors. The embedded finance market in Pakistan has been pegged at $167 billion and is backed by experienced and recognised fintech investors, including SparkLabs Fintech, Arif Habib Ltd, Cordoba Logistics & Ventures Ltd, Taarah Ventures and My Asia VC, among others.
“We are really excited about our investment in Neem, which is looking to transform the financial landscape in the country. We strongly believe in Neem’s ability as a leading embedded finance platform to drive financial inclusion in Pakistan, which aligns well with the core values of the Arif Habib Group,” said Shahid Ali Habib, CEO at Arif Habib Ltd.
Neem was founded in 2019 by experienced fintech entrepreneurs and ex-venture capitalists Nadeem Shaikh, Vladimira Briestenska and Naeem Zamindar.
