KARACHI: Over 50,000 freelancers in Pakistan have registered with Elevate since its inception earlier this year to receive payments from overseas clients.
Despite the rapid growth of freelancers in the country, many express dissatisfaction with the high service charges imposed by banks.
Elevate, a fintech company headquartered in London and Dubai, has secured $5 million in funding to expand its operations into South Asia. The company has gathered a total of $10 million in investments from both equity and debt sources.
According to Payoneer report, a financial services company that offers online money transfer and digital payment services, Pakistan ranks as the fourth-largest freelancer market globally, with a large and skilled workforce catering to the global market.
JazzCash users cross 11m
JazzCash, a prominent mobile wallet and digital financial services provider, has exceeded 11 million active app users. With a total of 44 million registered users, JazzCash boasts a significant female customers, comprising over 30% of its user base. The JazzCash also serves 17 million monthly active users, 300,000 merchants, and over 245,000 agents across Pakistan.
