Karandaaz Pakistan, an impact investment platform focused on financial inclusion and sustainable economic growth, has entered into a strategic partnership with Vizpro, a fintech company revolutionizing the FMCG retail sector. This collaboration aims to digitally transform Pakistan’s informal retail landscape, particularly by digitizing payments and extending financing solutions to small and medium-sized enterprises (SMEs).
The initiative targets the critical “Middle Mile” of the FMCG ecosystem, a segment where small retailers often operate outside formal financial channels. By leveraging digital tools, Karandaaz and Vizpro seek to bring these retailers into the formal economy, helping them build digital financial identities and access much-needed credit facilities. This move is expected to not only improve operational efficiency but also create a ripple effect of economic empowerment and transparency throughout the supply chain.
“This initiative is a bold step towards formalizing Pakistan’s vast informal retail sector by enabling small retailers to build digital financial identities,” said Mr. Waqas ul Hasan, CEO of Karandaaz. “By adopting an all-digital approach, the project aims to demonstrate the efficiency and scalability of servicing micro and small enterprises – setting a precedent for ecosystem-wide innovation in inclusive finance.”
Through its digital platform, Vizlink, Vizpro has already demonstrated tangible impact by onboarding over 13,000 merchants in Lahore, digitizing PKR 5 billion in merchant-to-distributor (M2D) transactions, and building a growing branchless banking agent network. Working in partnership with top-tier financial services providers like Easypaisa and JazzCash, as well as fintech enabler CreditBook, Vizpro is redefining how retail businesses handle trade, payments, and financing.
Leading FMCG players, including Pakistan Tobacco Company, have also partnered with Vizpro to digitize their distribution and sales operations. With Karandaaz’s support, the initiative will now expand to an additional 16,000 retailers across Tier 2 cities in Punjab and Karachi, significantly broadening its reach and impact.
The Vizlink platform offers a suite of bundled services, allowing retailers to manage inventory, place distributor orders, make digital payments, and access short-term working capital all within a unified ecosystem. A key enhancement to this model is the integration of Raast QR codes, enabling retailers to accept instant, digital customer payments. This feature is expected to accelerate the country’s transition to a cash-lite economy while minimizing friction in daily transactions.
“We started by solving the cash management problem between retailers and distributors, and ended up creating a complete supply chain solution with digital payments, merchant finance, and a robust communications platform,” said Mr. Akbar Ayub Khan, CEO and Co-Founder of Vizpro. “Our partnership with Karandaaz has been transformative and will inspire wider adoption of digital tools and attract further investment into the sector.”
Mr. Sharjeel Murtaza, Chief Digital Officer at Karandaaz, emphasized the broader implications of the collaboration: “With this partnership, we are scaling a successful pilot to digitize M2D payments across major cities. More importantly, we’re demonstrating how fintech innovation can address the working capital gap for small merchants – bringing order management, payments, and financing onto a single platform.”
This partnership marks a significant milestone in Pakistan’s fintech evolution, showcasing how targeted innovation can formalize informal economies, unlock credit access, and create sustainable growth pathways for small businesses across the country.