OneLoad, a micro-retailer fintech company in Pakistan, has raised $11 million from investors to support a growth phase as they work to reach the third-largest unbanked population in the world.
The publication claims that the most recent round of financing was spearheaded by Sarmayacar and Shorooq Partners with assistance from the Strategic Investment Fund of the Bill & Melinda Gates Foundation, which was investing for the first time in Pakistan.
With several million users each month, OneLoad’s Android app is Pakistan’s largest non-banking digital transaction platform and is mostly utilised by small business owners. It works in conjunction with financial institutions and telecommunications firms to offer services like lending, cash deposits, and payment processing.
The goal of OneLoad, according to creator and CEO Muhammad Yar Hiraj, is to be “the greatest banking platform in the country for the unbanked world, the financially excluded market. Without having any branches, he stated, “Our objective is to become the largest micro branch for the unbanked.”
