Pakistan’s embedded finance platform Neem has entered into a strategic investment partnership with DNI Group, a South African investment firm operating across 28 countries, to revolutionize finance across emerging markets.
This partnership involves a substantial investment by the DNI Group into Neem and fosters synergies in the broader financial wellness space, Neem said in a statement.
According to the statement, this partnership is a strong signal of the rising importance of the embedded finance model as well as the growing Pakistani digital tech ecosystem.
Neem is a firm building a banking-as-a-service platform with a vision to enable financial wellness for underserved communities.
Its business empowers hundreds of digital platforms in various industries to provide their customers with comprehensive embedded finance products through secure and easy application programming interfaces (API)-based integrations.
Its core belief in financial wellness centers around the idea that businesses and individuals can take control of their financial lives with the right tools and access.
This belief is further strengthened by its collaboration with DNI Group’s portfolio companies, such as Airvantage for airtime lending and Paymenow for earned wage access solutions.
Neem said that since its inception, it has been its clear objective to build the firm for Pakistan while aiming to make a global impact across emerging markets in the long term.
It said that the investment from DNI Group helps the firm to achieve this goal.
“DNI is thrilled to join forces with Neem, a team of like-minded individuals operating in a vibrant, growing economy,
“Neem’s mission to provide financial wellness to the Pakistani market aligns perfectly with DNI’s objectives of empowering people and enhancing financial and digital inclusion,” said Ross Venter, Chief Executive Officer of DNI’s technology arm, Digital Ecosystems.
“Through DNI’s strategic investment in Neem, we aim to accelerate the development, exchange, and commercialization of our respective technologies for the benefit of consumers within our global communities,” he added.
Despite the challenging macroeconomic circumstances, Neem opined that Pakistan’s digital ecosystem continues to thrive and innovate.
Neem said the firm is committed to building financial resilience and economic prosperity for people in Pakistan and beyond.