A Pakistani-origin entrepreneur’s payments startup has raised $20 million.

Fin.com, the payments startup co-founded by Pakistani-born entrepreneur Mustafa Dar, has emerged from stealth with a $20 million seed round. The company has an office in Lahore and has named South Asia as a priority market.

Expa, the investment firm founded by Uber cofounder Garrett Kemp, led the round, the company said. Other investors included Coinbase Ventures, Tenet Fund, and Figure and Mesh founder Bam Azizi. The founders did not disclose the value of Fin.com.

Fin.com provides a payment infrastructure that businesses can use under their own brands. It aims to facilitate cross-border transfers by connecting stablecoin settlements with local payment systems, including bank accounts and mobile wallets used to receive funds. Expa describes it as a platform that allows companies to collect, exchange, hold and pay funds worldwide. Expa lists Dar and Nabeel Alamgir as its founders.

For Pakistan, the challenge is familiar: Remittances from abroad must reach recipients through services they can use locally. Fin.com says its clients collectively serve more than 800 million customers, though it hasn’t named them.

Besides Lahore, the company has offices in New York, Las Vegas, Dubai, Dhaka and Bangalore. It is targeting South Asia, Africa and the Middle East.

Both Dar and Alamgir have said this given the difficulty of sending money home to their families. Dar, who previously founded private aviation firm 24/7 Jet, joined Fin.com as a co-founder after Alamgir pitched the idea. Expa partner Vitor Lourenço played an investment role that was initially expected from Dar.

The post Pakistani-origin entrepreneur’s payments-related startup raised $20 million appeared first on Daily Pakistan English News.

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