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Mobilink Microfinance Bank, a Pakistani digital financial services provider, recently initiated a collaboration with foodpanda home chefs, a division of Singapore-based “online food and grocery delivery platform” foodpanda. The objective is to extend weekly microloans of up to PKR 50,000 (USD 247) to home-based restaurant owners in order to “help resolve supply chain, marketing, and food quality issues” thus “empowering home chefs, especially women who are exploring a new field of entrepreneurship.” Founded in 2012, Foodpanda partners with approximately 115,000 restaurants and 80,000 delivery drivers in 14 countries in Eurasia.
Founded in 2012, Mobilink Microfinance serves approximately 31 million users – individuals as well as small and medium-sized enterprises – with loans, insurance and deposits. As of 2021, the firm had total assets of PKR 69 billion (USD 340 million). Mobilink contracts with AdalFi, a subsidiary of the Pakistan-based information technology firm Techlogix, for credit scoring services that harness artificial intelligence. AdalFi firm reports having helped Mobilink and 11 other digital lenders disburse approximately 25,000 loans, totaling PKR 400 million (USD 2.0 million) since the firm’s founding in 2021.
By Hasnat Aslam, Research Associate
Sources and Additional Resources
The Nation (Pakistan) article
https://nation.com.pk/2022/06/28/mmbl-partners-with-foodpanda-adalfi/
Mobilink homepage
https://mobilinkbank.com
Mobilink 2021 annual report
https://mobilinkbank.com/news-and-resources/publications-financials
Foodpanda homepage
https://www.foodpanda.com
Foodpanda homechef description
https://www.foodpanda.pk/contents/homechefs
AdalFi homepage
https://adalfi.com
Techlogix
https://www.techlogix.com
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
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