 |
ISLAMABAD, Sept. 29, 2021 /PRNewswire/ -- QisstPay, Pakistan's first and fastest growing buy now pay later platform (BNPL), today announced that they have raised $15M across its seed & pre-seed rounds with a mix of equity and debt. MSA Capital led the round, with institutional investment participation from Global Founders Capital; Fox Ventures, First Check Ventures; and a series of strategic angel investments from Simone Mancini and Johnny Mitrevski, Co-Founders of Scalapay, who recently raised a $155M Series A round at a $700M valuation; Ashley Davies, former CFO of Venmo and current Sylp CFO; former C Suite at Affirm; Adam Mawdesley, VP of Partnerships & Product at Splitit; and United Bank Limited of Pakistan.
QisstPay is an installment payment service for emerging markets offering interest free platform. When chosen at checkout, QisstPay allows customers to pay for their purchase in installments with 0% interest and no late fees. The service allows Pakistanis to pay for everyday necessities, effectively building better cash management in what is otherwise considered a very cash-driven society.
Co-Founder and CEO, Jordan Olivas is a former Klarna employee, who supported the launch of the company's Pay In 4 solution, one of the world's biggest BNPL platforms. "After moving here to Pakistan, I noticed how badly the people of this country need a financial tool to help them purchase goods and services that they not only want, but actually need," says Olivas.
Seeing a week to week growth on 92% rate, QisstPay is currently serving over 500 retailers in Pakistan, including Samsung, Camelbak, Diesel, Philips, Xiaomi MiStore, Lenovo & regional leaders such as Sapphire, Uniworth & the largest Shopify store in the country, elo.
"Export leftovers has recently seen another high of hitting the fastest spike of 85% on average order value ever since we have started to offer QisstPay BNPL to our customers," says Umar Qamar Co-Founder of Elo, the largest shopify Ecommerce brand in Pakistan.
To learn more, please visit https://qisstpay.com/.
About QisstPay
QisstPay is an installment payment service for emerging markets. QisstPay is a Buy Now, Pay Later platform that, when chosen at checkout, allows customers to pay in installments with 0% interest. They are addressing the lack of flexibility, integration, and the hidden fees currently plaguing Pakistan's BNPL landscape by giving customers an efficient, adaptable, interest free platform.
