BNPL Venture Taro secures 3.5 Million pre-seed funding

An emerging Fintech startup in Pakistan, Taro Technologies, has secured $3.5 Million in pre-seed funding through a combination of strategic partnerships and angel investors to launch a Buy-Now, Pay-Later (BNPL) venture in Pakistan.

As part of the pre-seed round, Taro partnered with Dubai-based, Cashew Payments, to accelerate its Q1 2022 launch. Cashew Payments is one of the GCC’s leading BNPL payment providers, focused on instant point-of-sale financing for both e-commerce and in-store transactions.

CEO Taro and former Silicon Valley Apple engineer, Mustafa Khan, commented that the partnership will enable Taro to be an established player straight out of the gate, stating, “Our collaboration with Cashew provides critical insights into risk, merchant acquisition, operations, and customer retention. Those insights paired with support from their experienced and accomplished leadership team position us for a strong launch and to quickly dominate the market.”

Taro’s partnership with Cashew Payments puts the fintech company on the global tech map for online instant financing solutions.

CEO of Cashew Payments, Ammar Afif, also commented on the latest development, stating, “We are delighted to partner with Taro, in providing ‘Buy now, Pay later’ solutions for merchants and consumers in Pakistan. As we’ve grown our business in the GCC, we recognized the need for retailers in Pakistan to have a seamless way of offering flexible payment options to consumers in multiple industries. Through our partnership with Taro, all retailers in Pakistan can soon rapidly activate Taro’s installment payments for consumers across all channels online and offline.”