Installment Aggregator ‘Dip’ Raises an Undisclosed Angel Round at a Staggering Valuation

Dip aims to amplify purchasing power for the masses through their omni channels. Their first product, Dip Marketplace, provides need-based to lifestyle products on easy & affordable monthly installments through their payment partners charging absolutely 0% interest.

Starting off, Dip has partnered up with 4 major banks (Faysal Bank, Bank Alfalah, MCB, and Silk Bank) and on-boarded top 50+ brands including an active product range of approximately 3,000+ products, dealing in consumer durable products & services.

The company aims to bring the best of user experience and a tag of genuine products for which they are limited to official manufacturers, distributors and retail network to gain consumer confidence & trust which is today’s one of the greatest impediments in Pakistan for ecommerce growth.

Their technology-driven shariah-friendly solutions have great significance for all their stakeholders, which are the epicenter of their ecosystem.

This ranges from assuring customer convenience and affordability of products to partners’ business growth & expansion, to broadening acceptance reach, value-added services, and customer valuable insights for their partnered financial and corporate institutions.

The essence of BNPL, which is based on minimal KYC and relaxed credit checks, has proven to become a twilight for many startups resulting in huge NPLs, resistance to business scale, and fear to enter into such market offerings for the new players.

Dip team thinks Pakistan market dynamics are different with respect to installment behavior, believing it will take time and cannot be scaled without proper due diligence, collaboration, and strengthening data intelligence.

The customer should be diligent and disciplined in terms of repayments with a basic track record, which is why they plan to work towards understanding the market behavior at this stage.

The company strives to collaborate with various leading banks, lending institutes, SMEs, large to medium corporates, fintechs, and telecommunication players to develop a better ecosystem.

The team has a diverse experience in consumer finance, digital banking, and retail, and is confident to take it to the next level, with plans to go global in their 2nd phase.

Adeel Shiekh, Chief Distribution Officer, and Rafay Zubair, Chief Strategy Officer, share, “In these tough economic times, Financial Inclusion is the key, the country is going through a paradigm shift with great potential and room for digital penetration, creating an opportunity for players like us to digitalize today’s brick and mortar traditional purchasing behaviors and retail businesses.”

“We eventually want to offer a complete suite of Digital Financial Services, gradually with our core focus on making this model sustainable. Our first Product gives us an opportunity to not just partner with Key players but work on the lending analytics complementing our future propositions.”

“Humbled and excited with the backing of our Investors and Key advisors from Leading Fintechs and Banks of Pakistan. Much obliged & thankful to our existing Partner Merchants & Banks for trusting us. We are and will strive to focus on our core values that include speed, customer-centric product approach, collaborations, and innovation.”

“Equally excited for our verticals which we plan to launch in the coming months, this is just the beginning,” they add.



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