From Banker to Founder: The SadaPay Story
How Mishal Rizvi left a cushy banking career to build Pakistan's first digital-first neobank
Ahmed Khan
In the bustling streets of Karachi, where traditional banks have ruled for decades, one woman dared to reimagine what banking could look like for 220 million Pakistanis. Mishal Rizvi, a former VP at Standard Chartered, left behind a six-figure salary and a corner office to chase a vision that most considered impossible.
"Everyone told me I was crazy. Why leave a secure banking job in London to start a fintech in Pakistan? But I saw something they didn't — 100 million unbanked Pakistanis who deserved better."
— Mishal Rizvi, CEO & Co-founder, SadaPay
The journey began in 2019, when Mishal and co-founder Brandon Timinsky noticed a massive gap in Pakistan's financial landscape. While the rest of the world was moving toward digital banking, Pakistan still relied heavily on brick-and-mortar branches, paperwork-heavy account openings, and high transaction fees.
The Journey
The Idea
Mishal and Brandon identify the gap in Pakistan's banking sector during a chance meeting at a fintech conference in Singapore.
Company Founded
SadaPay is incorporated in Singapore with plans to launch in Pakistan. Initial bootstrapping of $200K.
SECP Approval
After months of regulatory hurdles, SadaPay receives In-Principle Approval from the State Bank of Pakistan.
Seed Round
Raises $5.2M seed round led by Indus Valley Capital, one of Pakistan's largest fintech seed rounds at the time.
Beta Launch
SadaPay launches its beta app with 5,000 early adopters. The waitlist grows to 50,000 within weeks.
Public Launch
Full public launch with zero-fee international debit cards. 100,000 users in the first month.
Series B
Raises $72M Series B led by Global Ventures, becoming one of Pakistan's largest fintech raises.
"Fintech in Pakistan isn't just about convenience — it's about financial inclusion. Every digital account opened is a family brought into the formal economy."
— Brandon Timinsky, Co-founder, SadaPay
The challenges were immense. Pakistan's regulatory environment for fintech is complex, the infrastructure is still developing, and trust in digital financial services is slowly building. But SadaPay's approach — offering a sleek, Instagram-worthy app with zero fees on international transactions — struck a chord with Pakistan's young, digitally-native population.
Today, SadaPay processes over $2 billion in annual transactions, serves 3 million users, and has become the poster child for Pakistan's fintech revolution. The journey from a napkin sketch to a $200M+ valuation is a testament to what happens when vision meets relentless execution.