We’re thrilled to announce that SadaPay has raised $7.2M in seed funding to make money "Sada" (simple) for millions of Pakistanis! This funding comes from prominent international venture capital funds including Recharge Capital, Kingsway Capital, and leading angel investors like Pierpaolo Barbieri (founder of Ualá), Brian McGrath (General Partner at Ribbit Capital), and Andrew Wang (founder of Valon Technologies). We’re grateful to have found investors who believe in our mission of making money so simple that any other way becomes unthinkable.

This is a significant milestone in our journey! Since our founding in 2019, more than 200,000 people have joined our pre-launch waitlist, and our team has grown to 50+ Sadanauts, including accomplished leadership like Jon Sheppard (former CTO at Gojek) and Tayseer Ali (former CFO behind JazzCash). We’ve built a functional payments app (currently in beta) that’s connected to all banks via 1LINK, Mastercard’s global network, and Pakistan’s National Database & Registration Authority (NADRA). With SadaPay, we aim to reimagine payments in Pakistan, focusing on a future where money is simple, transparent, and fair.

Pakistan is the 5th most populous country in the world, with over 220 million people—70% of whom are under the age of 35. We believe the country is on the cusp of a digital revolution, with nearly one million smartphones coming online every month. In the next few years, mobile banking will see rapid growth, and we’re excited to lead the way with a user experience powered by technology. We also plan to develop products that will simplify remittances for expats and payments for freelancers.

Our mobile app lets users sign up for a wallet account in under two minutes and immediately start using a SadaPay Virtual Mastercard. Users can also order a physical debit card, which will be delivered to their doorstep in just 2 business days. The card allows for three free cash withdrawals per month at any ATM in Pakistan, and account holders receive IBAN numbers to facilitate international remittances from providers like TransferWise, Remitly, and WorldRemit.

Because SadaPay doesn’t have the high costs of physical banking infrastructure, we pass those savings on to our users, offering free financial services. Our product is perfectly positioned to boost financial inclusion in a country where most people are unbanked and lack access to modern financial services. The new funding will enable us to grow our team, expand our features, and enhance customer experience as we scale our user base.

We’re immensely grateful to our entire SadaFam for believing in us. As we move forward, we’re more committed than ever to empowering our users with a powerfully simple payments experience. Thank you for being such an important part of our story.

If you’re passionate about tech and think money in Pakistan needs to be simpler, we’d love for you to join our team! Please apply for our open roles here.