Leading Pakistan BNPL Fintech – QistBazaar – Secures Pkr 500 Million Equity And Embedded Finance Partnership With Bank Alfalah
QistBazaar, a leading Pakistan-based Buy Now Pay Later (BNPL) Fintech, announces a significant equity and Shariah-Compliant embedded finance partnership with Bank Alfalah – one of Pakistan’s largest commercial banks.
The partnership is worth PKR 500 million (US$1.7m) , and includes Bank Alfalah taking a 7.2% equity stake in QistBazaar, as well as becoming the Company’s embedded lending partner.
The transaction is a milestone for Pakistan’s fintech landscape, as it is the first time a commercial bank has taken an equity stake in a BNPL fintech.
QistBazaar is a fast-growing, Securities and Exchange Commission of Pakistan (SECP) licensed, BNPL, non-bank financial company (NBFCs) platform. The Company caters to all Pakistanis; from those unbanked and with little to no financial history, up to those banking at established institutions. It is unique in various different ways including that since day one of trading, it has been EBITDA positive.