Pakistani fintech Tag gets in-principle approval of country’s central bank, receives investment from former execs of N26 & Revolut

Pakistani fintech Tag gets in-principle approval of country’s central bank, receives investment from former execs of N26 & Revolut

Tag, a yet-to-launch Pakistani fintech has been granted in-principle approval by the country's central bank for an Electronic Money Institute License (EMI), it has told MENAbytes today. The approval will enable it to launch what it says would be a financial superapp for the local consumers.

“Having received the nod from the State Bank, we're now ready to launch our operations in Pakistan and disrupt the Pakistani digital payments space,” said the startup.

The Islamabad-based startup has also received an undisclosed amount of pre-seed investment from regional and international investors including Christian Rebernik, the former CTO of European online challenger bank N26, and Stefan Wille who was previously Deputy CFO of British challenger bank Revolut. Tag is currently in the process of closing its seed round.

Founded by Talal Ahmad Gondal, Ahsan Khan,