- FinVolution, a Chinese fintech company, has launched Daira, a new lending platform in Pakistan.
- Daira offers low-interest, flexible loans with funds transferred to customer accounts in under a minute, and no service fees.
- The company secured a Non-Banking Financial Company (NBFC) licence from the Securities and Exchange Commission of Pakistan (SECP) to facilitate the launch.
- FinVolution sees Pakistan’s large, youthful population and underserved financial services as a significant growth opportunity.
- The company’s credit technology focuses on credit risk assessment, artificial intelligence, big data, and fraud detection.
- Founded in 2007 and headquartered in Shanghai, FinVolution was listed on the New York Stock Exchange in 2017.
- Pakistan is the latest market FinVolution has entered, joining its other international ventures in Indonesia and the Philippines.
- FinVolution has secured other financial licenses this year, including a multi-finance license from Indonesia’s Financial Services Authority (OJK).
