Pakistani Fintech Dbank Closes $17.6M Seed Funding

Dbank, a Pakistani fintech founded by two former Google staffers, has raised $17.6 million in a seed funding round co-led by Sequoia Southeast Asia and Kleiner Perkins.

Brazilian digital banking giant Nubank, RTP Global, Rayn and local partner Askari Bank joined the round.

Details on products and launch timelines are scant but Dbank has applied for a digital retail bank license in Pakistan and set its sights onbringing financial services to underbanked people across the Pan-Islamic world.

The firm was founded by Tania Aidrus, who spent over a decade at Google focused on helping move economies from cash to digital, and Khurram Jamali, former head of partnerships for payments across the Net Billion Users markets for Google.

(Source: Finextra)