Friday
September 4
2020

Telenor Microfinance Bank Receives $45m Equity Injection To Continue Its Growth on Digital Strategy

Telenor Microfinance Bank, the first scheduled microfinance bank of Pakistan and the operator of the country’s leading digital payments platform Easypaisa, has received an investment of $45 million from its shareholders Telenor Group and Ant Group Co., Ltd. (Ant Group).

The investment by the shareholders has further strengthened the Bank’s capital position and placed the organization on an upward trajectory to continue its growth in the mobile payment space of Pakistan.

To address the low level of financial inclusion in the country, Telenor Microfinance Bank focuses on innovative technology and extensive research and development, and these areas will see a significant rise with the new investment being injected by its shareholders.

Photo courtesy of Priscilla Du Preez

Source: INCPak (link opens in a new window)

Categories
Investing, Technology
Tags
banking, emerging economies, financial inclusion, fintech, microfinance, mobile payments