FinVolution Group Unveils Daira, Its New Fintech Platform in Pakistan, to Accelerate Digital Financial Inclusion
Shanghai/Karachi, October 10, 2024 – FinVolution Group (NYSE: FINV), a leading pan-Asian fintech pioneer, officially launched Daira, its localized digital fintech platform in Pakistan, marking a significant milestone in the company’s global expansion strategy. The platform aims to bridge the gap in financial access for millions of underserved Pakistanis by offering secure, tailored digital financial services.
Pakistan’s Untapped Fintech Potential
Pakistan, strategically positioned in South Asia, boasts a large, youthful population but suffers from low financial inclusion rates, with millions lacking access to basic banking services. However, the country’s rapid digitalization presents a lucrative opportunity for fintech innovation.
“Pakistan’s fintech market is poised for explosive growth,” said Tiezheng Li, CEO of FinVolution Group. “With Daira, we aim to leverage our 17 years of technological expertise and market localization strategies to drive digital financial inclusion in the region.”
Daira: A Platform Built for Pakistan
FinVolution’s launch of Daira follows its acquisition of a Non-Banking Financial Company (NBFC) license from the Securities and Exchange Commission of Pakistan (SECP) earlier this year, ensuring regulatory compliance and operational legitimacy.
Xiaodong Sun, Senior Vice President of FinVolution, emphasized the platform’s focus on local needs:
“Daira is designed to understand and serve the unique financial requirements of Pakistani users. By actively engaging with communities, we aim to develop tailored solutions that empower individuals and small enterprises, fostering economic growth and inclusivity.”
The platform will offer secure, efficient digital financial services, including credit access, payment solutions, and financial literacy tools, all adapted to Pakistan’s regulatory and cultural landscape.
Global Expansion and Regulatory Milestones
FinVolution’s entry into Pakistan is part of a broader global growth strategy. In 2024 alone, the company secured key licenses across multiple markets:
NBFC License in Pakistan (SECP)
Multi-Finance License in Indonesia (OJK)
Special Accessing Entity (SAE) Accreditation in the Philippines (CIC)
These achievements underscore FinVolution’s commitment to compliant, sustainable expansion in emerging markets.
A Pan-Asian Fintech Leader with Global Reach
Founded in 2007 in Shanghai and listed on the New York Stock Exchange in 2017, FinVolution has been a trailblazer in the pan-Asian credit technology industry. Since 2018, the company has aggressively expanded its fintech offerings, establishing leading platforms in:
China
Indonesia
Philippines
Through its AI chatbot SaaS platform, BLU AI, FinVolution has extended its technology services to Latin America and Africa, serving nearly 40 fintech companies globally.
Strong Financial Performance and Global Growth
According to FinVolution’s Q2 2024 financial report, the company has served 5.6 million overseas users, with international operations contributing nearly 20% of total revenue, cementing its role as a key growth driver.
CEO’s Vision for the Future
“The launch of Daira in Pakistan is a critical step in our mission to democratize financial access across emerging markets,” said Tiezheng Li. “We will continue to pursue new opportunities in regions with untapped potential, leveraging our technology and localization expertise to build inclusive, sustainable financial ecosystems.”
About FinVolution Group
FinVolution Group is a global fintech leader specializing in AI-driven credit solutions, digital lending, and financial inclusion. With operations in Asia, Latin America, and Africa, the company empowers underserved populations through innovative technology, regulatory compliance, and community-centric strategies.
