Keenu, a leading player in digital payment services and an Electronic Money Institution (EMI), entered into an exciting chapter recently with a transformative management buyout that saw Saad Niazi assuming the mantle of acting CEO.
This strategic move signifies a new era of leadership, innovation, strategic direction, and growth for the company.
The management buyout will enable Keenu to operate more nimbly under the current owners, who have been part of the company’s journey since the beginning.
Keenu was launched in 2013 and is currently present in over 150 cities, providing digital payment services to businesses and consumers across Pakistan. The company’s offerings include payment gateway, point-of-sale (POS) acquiring mobile wallets, etc. Saad Niazi’s appointment as acting CEO comes at an opportune inflection point as cashless transactions continue rising in Pakistan.
In the last five years, Pakistan has witnessed exponential growth in digital payments across all channels, from mobile banking to e-commerce. Point of sale throughput crossed the Rs. 1 trillion mark in FY23 for the first time. “We have only scratched the surface so far and the industry is at the cusp of a disruption, thanks to a progressive regulatory environment. With the launch of the Raast person-to-merchant module, the rails for digitization have been set in place and we hope to play our part,” said Saad Niazi.
A veteran of the digital payments industry with a proven track record of driving innovation and growth, Saad has worked with Keenu for over ten years previously serving as the Chief Operating Officer. As COO, he helped solidify Keenu as one of the largest players in Pakistan’s fintech landscape.
“I am thrilled to lead Keenu into this exciting phase of growth and innovation. Our vision is to revolutionize payment services, delivering unparalleled convenience, security, and accessibility to our users. We are committed to driving positive change and reshaping the future of financial transactions. My priority is to accelerate our growth by enhancing our products, amplifying our marketing, delivering a frictionless payments experience and extending our footprint outside Pakistan.” said Niazi.
The new era for Keenu has brought with it an image overhaul with the company introducing a new logo marking ten years of successfully providing end-to-end payment solutions to the Pakistani market. Niazi is now flanked by other founding members, including Raja Faisal Zaman, Ali Islam Khan, Sheikh Nabeel Wahid, Arbab Sikander and Immad Aslam.
“We are now aggressively looking to grow our business beyond payments and to drive growth,” said Ali. The company is now looking to expand its footprint beyond Pakistan with more focus on increasing its technological capabilities.
