ISLAMABAD: Pakistan’s top agency for promotion of financial inclusion, Karandaaz Pakistan announced ‘CreditFix’ the winner of its Fintech Disrupt Challenge 2017 after a close competition between extraordinary startups at the Institute of Business Administration (IBA), Karachi.

CreditFix, founded by Owais Zaidi will receive up to $100,000 in funding whereas the three runner-ups, ‘Invoice Wakalah’, ‘UniKrew’ and ‘Agrigate’ will receive up to $20,000 each.

The Fintech Disrupt Challenge that aimed at hunting for extraordinary startup ideas worthy of creating substantial social impact, solicited innovative responses to bottlenecks in Pakistan’s financial services sector under the 2nd edition of the challenge.

This year, Karandaaz had invited startups in five thematic areas including Access to financial services, payments, E-commerce, Interoperability and Early stage ideas related to M-Wallet Use cases, Education of Financial Services through technology, Customer Engagement / Experience, Micro Credit, and Digital Savings.