Dbank, a Pakistani fintech established by two former Google employees, has successfully raised $17.6 million in a seed funding round co-led by Sequoia Southeast Asia and Kleiner Perkins.
In addition to these investors, Brazilian digital banking giant Nubank, RTP Global, Rayn, and local partner Askari Bank also participated in the funding round.
While specific details regarding products and launch timelines are limited, Dbank has applied for a digital retail bank license in Pakistan, aiming to provide financial services to underbanked populations throughout the Pan-Islamic world.
The company was founded by Tania Aidrus, who has over a decade of experience at Google focused on transitioning economies from cash to digital, and Khurram Jamali, who previously led partnerships for payments in Google’s Net Billion Users markets.