In a positive development for Pakistan’s freelance workforce, Swedish investment firm Front Ventures Vopy has announced a verbal agreement with a leading digital bank in Pakistan to launch a specialized payment service for freelancers.
This initiative aims to address the longstanding challenges faced by freelancers in the country due to the limited availability of international payment platforms.
According to Vopy, the new service is designed to facilitate payments to freelance consultants—primarily in the IT sector—who provide services to clients across Europe and the United Kingdom.
“The agreement comes from one of the major digital banks that our management team engaged with during a recent visit to Pakistan, where the client expressed a strong desire to roll out the service without delay,” stated a press release issued by Vopy.
Sven Hattenhauer, CEO of Vopy AB, confirmed the development, saying, “Our partner in Pakistan is eager to launch this solution promptly. They have requested exclusive rights to the service, which we have granted in exchange for higher compensation.
A cooperation agreement for freelance payments has been shared with the client, and we anticipate its formal signing shortly, enabling us to initiate operations immediately.”
Hattenhauer expressed optimism about the partnership, noting, “We are proud to collaborate with a client that is already a key player in Pakistan’s freelance economy. This initiative not only expands our reach to a new and growing market segment but also offers better margins compared to our other services.”
The press statement highlighted that Pakistan’s freelance sector processes an estimated $4 billion in payments annually. Vopy’s client in the country is reportedly experiencing rapid growth and currently provides a range of services to freelancers, but lacks a mechanism for fast and cost-effective invoice payments.
