02/08/2016 07:00:00

Vostok Emerging Finance invests into Finja, a Pakistani fintech venture

Stockholm, 2016-08-02 08:00 CEST (GLOBE NEWSWIRE) --

 

Vostok Emerging Finance (VEF) today announces that it has agreed to invest USD 1 mln into Finja, a Pakistani fintech venture. VEF is leading the funding round and holds a minority position and board representation in the company following the transaction.

 

Finja is a newly established fintech company in Pakistan with a mission to offer innovative financial services to Pakistan’s rapidly growing digitally literate population by displacing cash. Finja was founded by tech- and banking industry veterans Qasif Shahid, Monis Rahman and Umer Munawar.

 

Vostok Emerging Finance Managing Director Dave Nangle comments:

“We are very excited to announce our inaugural investment into the Pakistan fintech space. Pakistan is one of the developing markets that topped our investment focus list, since we launched last summer. From a fintech perspective, we have been impressed with the successful role out in neighbouring India and see Pakistan clearly following in its footsteps. In Finja, we are partnering with a strong and experienced founding team, which we believe are in great position to service and benefit from Pakistan’s 180mn+ under-banked population on the back of Pakistan’s rapidly growing 3G/4G enabled smartphone subscribers supported by a progressive regulatory framework.”

Dave Nangle, Managing Director

For further information please contact:

Björn von Sivers, Investor Relations, Tel +46 (0)8 545 015 50

 

Vostok Emerging Finance is an investment company with the goal of investing in early stage modern financial services companies across emerging and frontier markets. VEF trades in Sweden on Nasdaq First North under the ticker VEMF SDB.

Vostok Emerging Finance’s Certified Adviser on Nasdaq First North is Pareto Securities AB.

This information is information that Vostok Emerging Finance Ltd is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CEST on August 2, 2016.

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
22 Jan
 
Jeg har idag meldt Roland333 til finanstilsynet for gentagende gange at have overtrådt Artikel 12 st..
65
18 Jan
OMXC25
@ Poppelkongen: Jeg tror ski da, at du har misforstået brugen af filteret?! Når du nævner, at du er..
37
17 Jan
 
Hej alle,   Nu hvor jeg tager et sabat-år som investor i 2018, tænkte jeg, at jeg ville lave en upda..
26
19 Jan
 
Jeg har på en fornemmelsen at i ikke bryder jer om mig? Ik sandt? Så har overvejet at stoppe på EI. ..
24
20 Jan
 
Jeg stiller mig tvivlende,,,,,: At som dansk at betale til Prins Henrik & Co der skider DK en hatful..
19
19 Jan
 
Måske du bare skulle revurdere din adfærd og generelle ageren?
16
20 Jan
TEVA
Mit råd er at lade være med at lytte til andre. Beslut dig, hvad du synes Teva er værd. Hvis den nuv..
15
19 Jan
NOVO-B
Novo/Goldman: Kursmålet hæves med godt 30 pct. 19/1/2018 06.34· Ritzau Finans Den danske medicinalgi..
15
18 Jan
VWS
Utroligt, at det nu i flere år har været muligt og lovligt at handle under dæknavnet "Anonymous Brok..
15
18 Jan
VWS
Mere utroligt så vildt hurtige folk er til at hoppe på alle mulige konspirationsteorier hvis ikke ku..
14

Man Group PLC : Form 8.3 - [UBM plc] - Amendment

22/01/2018 14:52:32
Amendment to cash-settled derivatives positions and transactions, sections 2(a) and 3(b). FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: ..

Boussard & Gavaudan Investment Management LLP : Form 8.3 - UBM Plc

22/01/2018 13:22:35
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a)  Identity of the person whose positions/dealings are being disclosed: Boussard & Gavaudan Investment Manage..

Dimensional Fund Advisors Ltd. : Form 8.3 - Tesco Plc - Ordinary shares

22/01/2018 10:54:08
FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser:   Dimensional Fund Advisors Ltd. ("Dimensional"), in its capacity ..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
PacketFabric Announces Scalable Connectivity to Multiple Cloud Service Providers
2
Pulse Larsen Antennas will showcase its RAZORBACK, ARMADILLO, FIN, PANTHER, JAGUAR, DISC antenna series. Available in black and white, with three mounting types (direct, adhesive and magnet).
3
Genmab Announces Novartis’ Intention to Transition Arzerra® (ofatumumab) from Commercial Availability to Limited Availability via Compassionate Use Programs for the Treatment of CLL in Non-US Markets
4
West’s Unified Communications Services Attains Cisco Powered Cisco Spark Service Provider Designation
5
Canadian Nanosatellite Launch from China Heralds New Era of Satellite Services

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2018   Disclaimer and Terms of Use
Quote information is delivered by Morningstar.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
23 January 2018 00:17:04
(UTC+00:00) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20180122.2 - EUROWEB5 - 2018-01-23 01:17:04 - 2018-01-23 00:17:04 - 1000 - Website: OKAY