Safepay, a Karachi-based fintech startup, has become Pakistan’s first fintech startup to have graduated from Y-Combinator.
Y-Combinator is an American startup accelerator headquartered in Mountain View, California, that has launched more than 2000 startups including Airbnb, Dropbox, Reddit, and Twitch.
According to details, Safepay was a part of Y-Combinator’s summer 2020 batch and has raised an initial investment worth $150,000.
Safepay is a payment gateway for businesses operating in the digital space, allowing them to receive payment from their customers without any rigmaroles.
Its easy-to-use developer-friendly solutions enable businesses to easily integrate payment gateways within their websites and mobile applications.
It also offers plugins to make the integration of payment gateways for platforms such as WordPress, Shopify, WooCommerce, and Opencart effortless.
While Safepay doesn’t charge any setup fee, it charges businesses 3.3% and Rs. 30 on each consummated transaction.
At the moment, more than 270 businesses including Ego and Kitchen Cuisine are using Safepay’s solutions.
Ziyad Parekh, Safepay’s co-founder, has said that the startup is growing 40% month over month.
In July alone, Safepay processed over 5000 transactions worth $200,000, said Ziyad, adding that Safepay will become the Stripe, a leading US-based fintech company, of Pakistan.
Via: MENA Bytes