Supported by the FCDO and BMGF, challenge rounds aim to foster financial inclusion by spurring innovation in the financial sector. These rounds use a competitive mechanism to allocate financial support to innovative projects, addressing gaps in the financial services landscape. Through these rounds, Karandaaz supports SMEs, DFSPs, and startups, providing technical assistance, grants, and strategic support to scale successful ideas, optimise operations, and enhance user adoption and engagement.

Digital Financing for Agriculture (DFAC)

The Digital Financing for Agriculture Challenge (DFAC) – Round 2 is designed to unlock financial access for smallholder farmers through digital innovation. This initiative provides grants for disruptive financial solutions, including collateral-free credit, warehouse receipt financing, and digitized lending models, enabling farmers to access working capital, manage risk, and achieve financial stability. Apply now to drive impactful change in Pakistan’s agriculture sector.

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FinTech Disrupt Challenge

Karandaaz conducted a FinTech Disrupt Challenge in Pakistan to identify and support innovative solutions in the FinTech space. The first round was successfully held in 2016 in partnership with the LUMS Centre for Entrepreneurship. The second round was held in May 2017 in partnership with IBA’s Aman Centre for Entrepreneurial Development. The last round ran in partnership with FinTech Factory, Pakistan’s only FinTech-focused accelerator.

Digitizing Cash on Delivery (DCOD) Payments in E-Commerce

While the e-commerce ecosystem in Pakistan continues to develop, it has been observed that financial transactions remain predominantly cash-based (90%) and different value chain players including e-commerce platforms, logistics service providers, financial institutions, and customers, reinforce the use of cash compared to digital payments. Although cash on delivery was a key enabler in the early stages of e-commerce growth in Pakistan, it has resulted in value-chain players bearing additional costs and is likely to create a hurdle in future market growth.

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