Taro Technologies, a Lahore-based fintech startup, recently received $3.5 million in pre-seed funding from a number of partnerships and angel investors.

Taro accelerated its influence with a partnership with Dubai-based BNPL suppliers hyper-focused on quick point-of-sale financing for e-commerce and in-store transactions called Cashew Payments, which focuses on a Buy-Now, Pay Later business model.

Mustafa Khan, the CEO of Taro and a former Apple engineer, said the following about the strategic partnership:

“Our partnership with Cashew has given us invaluable insight into risk, merchant acquisition, operations, and client retention.” These insights, together with the assistance of their seasoned and competent leadership team, equip us for a successful launch and rapid market dominance.”

Ammar Afif, the CEO of Cashew Payments, stated the following:

“We’re thrilled to be working with Taro to provide ‘Buy Now, Pay Later’ solutions to merchants and consumers in Pakistan.” We identified the need for retailers in Pakistan to have a seamless means of delivering flexible payment choices to consumers in numerous industries as our business grew in the GCC. All retailers in Pakistan will soon be able to quickly activate Taro’s instalment payments for customers across all channels, both online and offline, thanks to our partnership with Taro.”

The startup’s main goal is to provide new forms of credit to all Pakistanis, allowing retailers to increase their sales and overall market reach. Through their unique offering, the startup also wants to provide the underbanked. Increased access to e-commerce outlets are also part of this.