Investment will accelerate in-country expansion and improved collateral assessment
SINGAPORE (April 10, 2023): Insitor Impact Asia Fund II, a regional impact investment fund managed by Insitor Partners (Insitor), has invested $2 million in GoldFin Limited Pakistan (GoldFin).
GoldFin was founded by an experienced team of bankers with a vision of becoming the premier provider of gold-backed lending (GBL) services in Pakistan. The company has secured permission to set up an NBFC (license pending). GoldFin will not only build its own GBL portfolio but is also the service provider for leading financial institutions interested in GBL. Insitor’s investment will help GoldFin expand its geographical footprint and introduce innovative solutions for collateral assessment and safe-keeping.
“We hope that our investment in GoldFin will help create an ecosystem that can unlock liquidity for the masses in a fast and efficient manner, especially for women borrowers. We intend to provide our full support throughout their journey of enhancing access to credit in Pakistan,” said Hammad Umer, Insitor's Pakistan Country Manager.
“We appreciate Insitor’s faith in the team and their commitment to investing in impactful businesses in Pakistan. Our focus shall remain on building a customer-centric institution that will leverage digitization to bring the culturally driven savings of ordinary citizens into the stream of national economy,” said Nadeem Hussain, GoldFin's Chairman.
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