A Pakistani Fintech Startup is Preparing to Become an International Company
Pakistani fintech startup is rapidly growing into an international company, offering financial services worldwide. Recently, they raised significant capital from investors and plan to expand into different Asian markets. Looking more visit TAG Innovation Private Limited.
TAG Fintech is a leader in neobanking and plans to expand their services beyond South Asia and Middle East, according to Profit. Established in 2020 by Talal Ahmed Gondal and Alexander Lukianchuk, the company is poised for expansion across other South Asian and Middle Eastern nations.
At present, the startup boasts an experienced team of 80 personnel and numerous customers in Ukraine. It aims to develop the neobanking market and offer top solutions that align with global financial technology trends, according to CTO Alex Lukianchuk.
TAG Fintech envisions becoming a full-fledged digital bank for all its users, providing them with all the tools to manage their money and finances. Users will be able to open an account quickly and receive a complimentary VISA debit card linked to it, transfer funds instantly anywhere, pay utility bills and recharge mobile phones with just a few taps on their smartphones.
The TAG Visa Debit Card, linked to your bank account, offers a host of payment features that can be used at millions of retailers and online merchants worldwide as well as all ATMs in Pakistan. Plus, there are no hidden fees or minimum balance requirements - making this card the perfect choice for those on a budget!
Pakistan's rural populations often lack access to banking services. TAG Fintech seeks to solve this issue by simplifying KYC procedures and saving users time on paperwork. According to its founder, TAG Fintech will give everyone in Pakistan the chance to open a bank account.
This is an effective way to assist the unbanked population of Pakistan and other countries with less developed economies and financial infrastructure. Indeed, it serves as a prime example of the kind of innovative and disruptive services that fintech startups are developing in emerging markets.
Another key challenge facing the startup is guaranteeing its customers receive high-quality, thoughtful solutions. To accomplish this feat, much research and development must be done.
TAG Fintech strives to revolutionize how Pakistanis bank, offering the most convenient, innovative, and secure solutions for their monetary needs. They are regulated by the State Bank of Pakistan as an electronic money institution (EMI), offering a full suite of services such as opening an account, receiving a Visa debit card, money transfer, and secure online shopping.
The TAG service utilizes cutting-edge technologies and employs advanced security measures such as 128-bit AES encryption, access control, and secure processes to keep users' money secure. Furthermore, it is backed by AAA credit-rated partner banks for added assurance.
Tag has raised an impressive $12 million in what is believed to be the largest seed financing round ever conducted in America. This represents a major milestone for YC-backed Tag, bringing its total raise up to over $17.5 million with investors such as Liberty City Ventures, Canaan Partners, Addition LP, Mantis and Banana Capital joining other investors in this round.