CB Insights today named NayaPay, a leading E-Money Institution from Pakistan, to its seventh annual Fintech 100, showcasing the 100 most promising private fintech companies in the world.
“The 2024 Fintech 100 winners are high-momentum companies shaping the future of financial services,” said Laura Kennedy, Principal Analyst at CB Insights. “Unsurprisingly, this year’s cohort is deploying AI across a wide variety of solutions. But they’re also diverse in their reach in emerging and developing economies, and focus on everything from fraud prevention to financial inclusion.”
Danish Lakhani, CEO, NayaPay said: “We are deeply honoured to be recognized by CB Insights as one of the most promising fintech startups of 2024. This acknowledgment strengthens our resolve to empower millions of unbanked and underserved Pakistani consumers and businesses – enabling them to manage their finances with ease, security, and trust. We will continue to innovate and tailor our offerings to meet the unique needs of Pakistan’s growing digital economy.”
The list primarily includes early and mid-stage startups driving innovation across fintech. The research team picked winning companies based on CB Insights datasets, including deal activity, industry partnerships, team strength, investor strength, employee headcount, and proprietary Commercial Maturity and Mosaic scores. The team also dug into Analyst Briefings submitted directly by startups.
Recently recognized in the Forbes Asia 100 to Watch list and awarded Best Fintech at the Pakistan Banking Awards, NayaPay is revolutionizing how individuals and businesses in Pakistan manage their finances by offering intuitive solutions for everyday transactions and beyond. Through strategic partnerships with global leaders like Visa and Alipay+, NayaPay is bringing the world closer to Pakistanis, driving financial empowerment, and pioneering innovations to meet the evolving needs of its users.
Quick facts on the 2024 Fintech 100:
- The 100 winners include 13 wealth management companies, 11 in embedded finance, and 10 in insurance.
- The 2024 cohort is deploying AI across a wide variety of use cases and features a notable number of solutions driving financial inclusion and accessibility.
- $7.2B in equity funding raised over time, including more than $2B in 2024 so far (as of 10/23/2024).
- Nearly 50% are early-stage companies (primarily seed/angel or Series A).
- 52 companies from outside the United States, across 23 countries on 6 continents. This includes 17 companies from 11 emerging and developing economies.
- 850+ business relationships since 2022, including with industry leaders like Mastercard, State Street, and Flipkart.
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About NayaPay
NayaPay, the first E-Money Institution in Pakistan, is a fintech platform empowering underserved consumers and SMBs with better access to financial services. NayaPay has built a community of students, freelancers, and digital natives for its consumer proposition — a chat-led super app accompanied by free Visa Virtual and physical cards. Any Pakistani citizen can open a NayaPay wallet on their smartphone in minutes and use the app to make everyday payments, send and receive money, split bills, and much more. For entrepreneurs and SMEs, NayaPay offers access to business accounts, universal payment acceptance and powerful financial management tools with an easy-to-open e-money account and Visa debit cards.
NayaPay is authorized and regulated by the State Bank of Pakistan as an Electronic Money Institution. For more information please visit: www.nayapay.com or follow the company on LinkedIn, X, Facebook, and Instagram.
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[email protected]
