Pakistani embedded finance startup Neem has obtained a $4 million credit facility from South Africa’s DNI Group, an existing investor, to expand its earned wage access solution, Paymenow, across Pakistan.
This development follows a $1 million investment from DNI in June 2023, strengthening their partnership aimed at promoting financial inclusion and ethical finance options.
Neem’s Paymenow provides a Shariah-compliant, debt-free service allowing employees to access up to 50% of their earned salary before payday. The solution addresses the financial strain faced by Pakistan’s workforce, particularly those in essential sectors, by bridging financial gaps between paydays.
DNI Group’s Chief Strategy Officer Ziyaad Manie stated the investment aligns with the firm’s goals of driving positive financial impact, adding, “We’re thrilled to back Neem in scaling this unique solution that directly benefits people.”
Neem co-founder Naeem Zamindar noted that the investment reflects foreign confidence in Pakistan’s potential, emphasizing the shared vision for fostering financial wellness across underserved communities.
With the additional funding, Neem aims to expand its platform’s reach and continue advancing ethical finance solutions tailored to Pakistan’s salaried workforce.
