Dbank, a company focused on democratising financial services, has raised $17.6m in a seed funding round co-led by Kleiner Perkins and Sequoia Southeast Asia.
The round also saw participation from Nubank, Askari Bank, Rayn and RTP Global. Dbank was founded by two former staffers at technology giant Google.
According to Finextra, while details on products and launch timelines are scant, the company has applied for a digital retail bank license in Pakistan and has set its sights on bringing financial services to underbanked people across the pan-Islamic world.
The firm was founded by Tania Aidrus and Khurram Jamali. The former spent over a decade at Google focused on helping move economies from cash to digital, while the latter was a former head of partnerships for payments across the net billion users markets for Google.
PayGround, which helps people pay medical bills online, recently closed its latest funding round on $5.5m as it looks to launch new marketing campaigns.
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