Pakistani fintech Safepay raises seed funding from Stripe, others

Published 11 Feb,2021 via MENAbytes - Karachi-headquartered fintech Safepay has raised seed funding from global financial technology platform company Stripe. The startup did not share the exact size of the deal but has told us that it’s a seven-figure (USD) amount alongside participation of other local and international investors.

The round also includes Berlin-based Global Founders Capital (which invested last month in [Bazaar](https://www.menabytes.com/bazaar-seed/) ), US-based HOF Capital, Soma Capital, and Mantis Venture Capital, as well as Pakistani VC Fatima Gobi Ventures. It follows Safepay’s graduation from [Y Combinator’s Summer 2020 batch](https://www.menabytes.com/safepay-y-combinator/).

[Safepay](https://www.menabytes.com/safepay-y-combinator/) was founded in 2019 by Ziyad Parekh and Raza Naqvi with the aim to build digital payments solutions for Pakistani merchants. It had launched a beta product in 2019 and the two co-founders were able to scale quickly to provide online payment services to over 300 merchants in the country. The services were taken offline a year later as the company initiated its expansion which requires working within a framework with other financial partners and the central bank of the country, stated its co-founders, speaking to us.