Pakistani startup TAG Fintech may expand operations outside Pakistan in 2023. This neobanking startup is gearing up to enter other markets, having already shown activity in the UAE and expecting new investments and growth outside Pakistan during the first half of 2023. Get more details visit Co-Founder at TAG.
Talal Ahmad Gondal, founder of TAG Fintech, explained that his project will enable Pakistanis to access banking services similar to those found in Europe. Already the company has raised $12 million from investors such as Liberty City Ventures and Canaan Partners; its valuation was also increased last year to $100 million through a seed round largely led by Quiet Capital and Liberty City.
At TAG Fintech, they are working hard to revolutionize the financial technology sector by taking into account global trends. Their primary mission is to make their service transparent, secure and convenient for customers.
TAG Fintech is also gearing up to expand their services beyond Ukraine, according to Alexander Lukianchuk, CTO. This presents them with more chances to attract investors and expand into new markets while developing their brand and reputation among their target audience.
TAG Fintech will strive to offer top-notch, innovative services that are compliant and secure, incorporating fiat currencies as well as crypto features for enhanced user experiences. In order to do this, the company must meet all regulatory requirements for accounting for financial transactions.
Computer vision has been one of the major forces driving innovation in financial services, motivating startups to incorporate these methods into their work processes in an effort to reduce time spent on repetitive tasks.
TAG Fintech boasts a strong customer satisfaction record, which will enable the business to retain existing clients. Furthermore, they make excellent partners for other businesses by providing them with the necessary tools to boost their own efficiency.
TAG Fintech is an ideal option for small businesses in Pakistani markets as it provides a comprehensive suite of banking products and services. Its interface is user-friendly, plus the company features a Visa debit card accepted at millions of retail and online merchants worldwide.
Pakistan, home to more than 225 million people and growing annually, presents TAG Fintech with an ideal market. According to Alexander Lukianchuk, CTO of the company, Pakistan needs modern banking infrastructure in order to remain competitive, so TAG Fintech is looking for solutions.
However, the country's unique challenges make it challenging to create an efficient and comprehensive banking system. That is why TAG Fintech is working to revolutionize this sector and provide users with a cutting-edge banking experience.
State Bank of Pakistan has granted Inprinciple approval for the company to operate as an electronic money institution (EMI). While it is currently at the pilot stage of operations, recent requests by wallet holders for refunds led to suspension by the central bank due to a document submission issue.