Tez Financial Services: Raise $1.1 M in Seed Round Led by Omidyar Network

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Tez Financial Services: Raise $1.1 M in Seed Round Led by Omidyar Network

  • Funds will help the company build its credit portfolio, enhance its mobile technology platform, and secure the company’s NBMFC license
  • Aim is to become the primary financial service provider for the unbanked and underbanked in Pakistan
  • Most unbanked and underbanked consumers use a variety of informal financial tools to manage their finances, but those can be unreliable, expensive, and inefficient
  • Tez uses some of the latest technologies, such as artificial intelligence, to analyze consumers’ digital footprint trends, social behavior, and consumption patterns
  • Tez has integrated with EasyPaisaUBL Omni, and SimSim as its branchless banking partners, resulting in the largest combined agent network for its customers