PROJECT

Projects

Summary of Investment Information

Project Number

42733

Company Name

WEMSOL PRIVATE LIMITED

Date SPI Disclosed

Jul 23, 2021

Country

Pakistan

Region

Middle East

Projected Board Date

Aug 25, 2021

Environmental Category

C - No Impact

Status

Hold

Last Updated Date

Sep 30, 2022

Department

Equity Portfolio Management

Industry

Financial Markets

Previous Events

Approved : Aug 31, 2021

Sector

Retail Payment Points

Project Description

The proposed project consists of an equity investment by IFC of up to US$5 million in Wemsol (Private) Limited, operating under the brand name “Keenu” (“Company”), which is the leading independent offline merchant acquirer in Pakistan. The Company enables offline merchants to accept credit / debit card payments through Point of Sale (POS) devices and offers a consumer digital wallet and an ecommerce payment gateway.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation