Pakistani fintech firm Neem has secured $1 million in fresh investment, while Hong Kong’s Earn Network has raised $2.7 million in its latest funding round.
Pakistan’s Neem raises $1m from DNI Group
Neem, a Pakistan-based embedded finance platform, has announced raising $1 million in fresh funding from South African investment firm DNI Group.
The investment was on top of the $2.5 million that the fintech firm raised in its seed funding round in September last year, according to the announcement.
Neem said DNI’s investment gives the startup the potential to scale globally across emerging markets as the investor has a strong footprint across 28 countries in Africa and Latin America.
Neem was founded in 2019 by experienced fintech entrepreneurs and ex-venture capitalists Nadeem Shaikh, Vladimira Briestenska and Naeem Zamindar.
Neem’s embedded finance platform consists of two products — banking-as-a-service to offer payments and other financial products such as savings and insurance to its communities; and a lending platform offering customised products for both consumers and MSMEs.
“This collaboration represents a strong signal for the embedded finance industry and demonstrates a shared vision for transforming the financial landscape in Pakistan,” Neem said.
Earn Network secures $2.7m led by Shima Capital
Earn Network, a Hong Kong-based marketplace for liquid investments, has announced raising $2.7 million in its seed funding round anchored by blockchain-focused investor Shima Capital.
The round was also backed by DFG, Jsquare, LD Capital, Cronos Labs, GTS Ventures, Bixin Ventures, ViaBTC Capital, Mars DAO, and Mirana Ventures, according to the announcement.
The company said it will use the fresh funds to develop new product categories such as lending, liquid staking, and native restaking on its marketplace.
Earn Network addresses the shortcomings of traditional investment platforms by providing a no-code solution. The platform allows users to leverage audited templates to create custom financial products like staking or borrowing pools, thereby eliminating hidden fees and intermediaries.
Launched in 2022, Earn Network has attracted over 150,000 users and partnered with prominent projects like Avalanche, Decimal, and Cronos.