Pakistani QisstPay has said that it raised $ 15 million in seed funding rounds from International funds.
QisstPay is raising funds at a time when global funds have increased their investments in the region in general and in Pakistan in particular. The round of financing was led by the Chinese MSA Capital, Global Founders Capital, Fox Ventures and First Check Ventures.
Angel investors in the round include Scalapay founders Simon Mancini and Johnny Mitrievski, who recently raised $ 155 million in Round A of $ 700 million; Ashley Davis former Venmo CFO and current CFO Sylp, former Affirm-C Series employee; and Adam Maudsley, Director of Partnerships and Products, Split.
United Bank Limited also participated in the tour. QisstPay is an installment payment based platform for emerging markets that allows consumers to Buy Now and Pay later for consumer products. This aims to address the lack of flexibility, integration and hidden payments currently plaguing the Pakistani payment system by providing customers with an efficient, adaptable and interest-free platform.