OPay International, a global leader in financial technology, has officially acquired Finja Private Limited, a licensed Electronic Money Institution (EMI) in Pakistan. This acquisition, finalized on November 29, 2024, marks OPay’s strategic entry into Pakistan’s rapidly growing fintech sector and reinforces its commitment to advancing financial inclusion and innovation in emerging markets.
The acquisition was made through Finja Private Limited’s parent company, Finja, Inc. (Delaware), and is a pivotal step in OPay’s global expansion strategy. With this move, OPay seeks to leverage Finja’s local expertise and infrastructure to drive the adoption of digital financial services across Pakistan. This collaboration aims to meet the evolving needs of consumers and businesses, offering innovative solutions tailored to the country’s dynamic financial landscape.
Aurang Zeb Khan, Country Head of OPay Pakistan, expressed confidence in the partnership, emphasizing its potential to strengthen the local economy. “This acquisition enables us to offer a wider range of financial services to our customers and contribute meaningfully to the growth of the Pakistani economy,” he said. His sentiments were echoed by Saad Hassan, CEO of Finja, Inc. (Delaware), who stated, “We are confident that OPay is the right partner to take Finja to the next level. With their global expertise and resources, they will undoubtedly drive significant innovation and growth in the Pakistani market.”
The acquisition process was made seamless through collaborative efforts and regulatory support. Both OPay and Finja expressed their gratitude to Ali Mubashar Kazmi for his instrumental guidance throughout the process. Additionally, they acknowledged the critical role played by Pakistan’s regulatory authorities, including the State Bank of Pakistan (SBP), the Securities and Exchange Commission of Pakistan (SECP), and the Competition Commission of Pakistan (CCP), in facilitating the transaction.
This acquisition signals a promising shift in Pakistan’s fintech sector. With OPay’s resources and global expertise, Finja’s services are expected to scale rapidly, creating more opportunities for digital financial solutions. By integrating Finja’s established presence in Pakistan, OPay aims to deliver cutting-edge services to a wider audience, empowering businesses and consumers alike.
The move aligns with OPay’s broader mission to transform the financial services industry in developing economies. Known for its innovative solutions and user-friendly platforms, OPay has established itself as a leader in the global fintech arena, particularly in markets where access to traditional banking services is limited. The addition of Finja to its portfolio reinforces this mission, enabling OPay to bridge financial gaps and foster a more inclusive digital economy in Pakistan.
OPay’s entry into Pakistan comes at a critical time when the country’s fintech sector is poised for rapid growth. With increasing smartphone penetration and a growing demand for digital financial services, the market offers significant opportunities for innovation. This acquisition positions OPay as a key player in this evolving ecosystem, with the potential to redefine how financial services are delivered in the region.
By committing to innovation and financial empowerment, OPay is set to play a transformative role in Pakistan’s fintech landscape. Its collaboration with Finja underscores the growing importance of partnerships in driving sectoral growth and enhancing access to financial services. As OPay integrates its global expertise with Finja’s local strengths, the future of digital finance in Pakistan looks more promising than ever.