Pakistani startup Oraan has raised $3m seed funding for funding gender-inclusive fintech. The startup led by a local woman is based in Karachi and co-led by Zayn Capital and Wavemaker Partners. The other participants include Plug and Play, i2i Ventures, Haitou Global, and Resolution Ventures. Moreover, Magma Partners are on a board as the position of the adviser for the company.
Oraan was founded in 2018 by Halima Iqbal and Farwah Tapal, a former investment banker and a design artist respectively. The fintech was created with the idea of facilitating Pakistanis for the struggles they face in financial services especially those that are designed for them.
Iqbal said, “While there is a demand among women for credit, insurance and savings services, they are unable to approach financial institutions due to mistrust, the complexity of products and challenges around mobility.”