Switzerland's ZoodPay enters Pakistan with acquisition of digital lender Tez

(Left to Right) Naureen Hayat, Nadeem Hussain, and Humza Hussain of Tez

Karachi-based Tez Financial Services (Tez) has been fully acquired by ZoodPay, a Switzerland-based buy now pay later (BNPL) platform that has operations mainly in the Middle East and Central Asia. Tez’s valuation during the acquisition is confidential.

Tez — backed by Planet N, Flourish Ventures (Omidyar Network), and Accion among others — was the first fintech in Pakistan to be granted a Non-Bank Financial Company (NBFC) licence in 2018.

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