# Tez Financial Services

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/tez-financial-services

- Industry: Software
- Headquarters: Karachi, Pakistan
- Website: www.tezfinancialservices.pk
- Total disclosed funding: $1.1M
- Latest round: Seed (Oct 19, 2018)
- Investors on record: 3

## About

Tez Financial Services Limited is a digital lending company focused on enhancing financial inclusion by offering innovative fintech solutions and e-commerce platforms tailored for underbanked populations and SMEs across multiple countries.Founded in 2016, Tez Financial Services Limited operates as a digital lending platform aimed at improving financial access for underserved populations. The company is headquartered in Karachi, Pakistan. Tez Financial Services was founded by Naureen Hyat, who has a history of entrepreneurial experience. In May 2022, the company received a Seed round totaling USD 1.10 mn, led by Omidyar Network, with other investors including Accion and Planet N Group. This funding round represents the total amount raised by the company to date.Tez Financial Services operates ZOOD, a comprehensive digital lending platform designed to enhance financial inclusion for over 300 million individuals and SMEs in Pakistan, Iraq, Uzbekistan, and Lebanon. ZOOD's core offerings include ZOOD Pay, facilitating digital payments and lending; ZOOD Mall, an e-commerce platform with installment payment options; and ZOOD Ship, providing logistics services for efficient delivery. The services are tailored to meet the needs of underbanked populations and SMEs, enabling online purchases with manageable payment plans and providing businesses with inventory financing and warehousing solutions. ZOOD actively serves over 10 million users.Tez Financial Services generates revenue through various transaction structures focused on B2C and B2B interactions. The company earns income via lending activities through ZOOD Pay, enhancing consumer purchasing power with flexible installment options. ZOOD Mall contributes to revenue through its extensive product catalog, targeting both local and international markets. ZOOD Ship's logistics services also represent a revenue stream, offering fulfillment solutions for merchants using ZOOD Mall. Partnerships with retailers and merchants help increase sales and customer reach, leveraging a competitive pricing strategy that promotes accessibility and affordability in financial solutions for diverse clientele.Tez Financial Services plans to expand its digital lending and e-commerce platform offerings in upcoming markets in the Middle East and Central Asia. The company aims to roll out new products enhancing user experience by the end of 2023. The recent Seed round funding of USD 1.10 mn will be directed towards developing these new products and supporting the infrastructure for expansion. In May 2022, Tez Financial Services was acquired by OrientSwiss S.A., a portfolio company of Sturgeon Capital and Zain Group, indicating a strategic move towards growth and market penetration.

## Funding rounds

- Seed, Oct 19, 2018, $1.1M — Accion, Omidyar Network, Planet N Group

## Investors

- Accion (https://capitalatlas.ai/funds/accion) — Seed
- Omidyar Network (https://capitalatlas.ai/funds/omidyar-network) — Seed
- Planet N Group — Seed