The collaboration involves OLP Group, Pakistan’s largest SME-focused Listed Non-Banking Finance Group investing an undisclosed amount into Muawin by Cashew Financial Services Limited, the nation’s first B2B BNPL (Buy Now, Pay Later) financial lender.
This disruptive coalition between OLP Group and Muawin marks a significant moment in the transformation of the country’s financial landscape, with both institutions joining hands to elevate the status of MSMEs.
In today’s era of rapid technological advancements, the demand for traditional lending to evolve has increased exponentially. With MSMEs contributing an estimated 30% to Pakistan’s GDP, business owners and entrepreneurs demand speedy, flexible, and tailor-made digital financial solutions to aid them in their venture’s growth and profitability.
As pioneers of market innovation spearheading the nation’s economic development over the past 35 years, OLP Group has continued to break new grounds by pursuing profit-earning opportunities through specialized lending capabilities and innovative partnerships to create a real impact on Pakistan’s budding entrepreneurial ecosystem. The partnership with Muawin is the logical next step for their journey in increasing their impact within Pakistan’s lending ecosystem.
As Pakistan’s first digitally integrated B2B Buy Now, Pay Later entity, Muawin’s core philosophy is built upon collaboration to unlock financial freedom. With close supply chain partnerships across multiple lending verticals and an in-house developed tech stack, Muawin has proven instrumental in aiding a huge number of MSMEs to gain financial control to grow their businesses successfully. Muawin has expanded rapidly to cement its foothold in retail, ride-hailing, agriculture, and logistics finance.
Muawin’s unique digital credit-based solutions conjugated with OLP Group’s vast local and international financial sector expertise across multiple lending streams will work towards supercharging financial access for Pakistan’s immensely populated MSME sector brimming with potential.
Speaking at the announcement ceremony, Ammar Afif, CEO Muawin, remarked, “The strategic support from one of Pakistan’s most respected and prominent financial lenders will allow Muawin to enhance and scale up our BNPL model. OLP Group’s expertise in creating value-added financial products and innovative customized services will help us further drive end-to-end impact across multiple supply chains – thereby making a truly game-changing contribution in our mission towards unlocking financial freedom.”
Raheel Qamar Ahmad, CEO and MD, OLP Services Pakistan (Private) Limited speaking on the occasion said “Our investment into Muawin represents a landmark moment for Pakistan’s financial ecosystem. With B2B BNPL transforming traditional lending worldwide, we identified an opportunity to partner up with the leading B2B startup redefining credit through innovative digital solutions, and subsequently explore new avenues of growth that can potentially create a long-lasting contribution to our collective goal of helping every Pakistani move another step closer to financial freedom.”
And in the coming months, Muawin and OLP Group will continue to expand the scope of their partnership to speed up developments in Fintech and help build the foundations of a financially prosperous nation.
Cashew Financial Services Limited (Muawin) is a licensed NBFC by the Securities and Exchange Commission of Pakistan
