ZoodPay: Acquires Tez Financial Services
- ZoodPay is a lending Super App focusing on emerging markets across the Middle East and Central Asia
- Backed by investors including Planet N, Flourish Ventures (Omidyar Network), and Accion
- It provides nano-loans to the unbanked and underbanked segments in over 160 cities in Pakistan
- Through this acquisition is positioning itself as a key new player in the digital lending and fintech industry in Pakistan
- In the absence of credit histories and credible data, conventional players have been unable to assess risk
- Raised $50 million to date, with participation from leading global and strategic investors including Zain
