Neem, a banking as a service platform from Pakistan has raised a sum of $1 million from DNI Group. This amount is in addition to the $2.5 million raised by the startup in seed funding and takes up the total amount raised to a total of $3.5 million.
Neem was founded by Nadeem Shaikh, Vladimira Briestenska, and Naeem Zamindar, three seasoned fintech entrepreneurs, operators, and ex-VCs in 2019.
The investment amount will be utilized towards expanding Neem’s banking as a service platform across emerging markets with the help of DNI Group, the startup has already partnered with DNI Group portfolio companies including Airvantage in the airtime lending space and Paymenow in the earned wage access sector.
“DNI is excited to partner with the high-quality, like-minded individuals at Neem operating in a vibrant, growing economy,” said Ross Venter, CEO of DNI’s technology arm, Digital Ecosystems. “Neem’s goal of providing financial wellness to the Pakistani market aligns with DNI’s own objectives around empowering people and enhancing financial and digital inclusion. Through DNI’s strategic investment into Neem, we hope to fast-track the development, exchange, and commercialization of our respective technologies for the benefit of consumers within our global communities.”