In Pakistan, NayaPay Pvt. has raised $13 million of early stage financing as it looks to acquire millions of customers within one of the world’s most underbanked countries.

The seed round of the Karachi-based startup was managed by Zayn Capital, MSA Novo and Silicon Valley early-stage investor Graph Ventures CEO Danish Lakhani told during an interview. NayaPay was the first startup to provide financial services after getting a license through the State Bank of Pakistan in August. NayaPay, a fintech’s chat-based payment app was initially geared towards freelancers and students.

Fintech companies in developing countries are attracting more interest from investors as more people are embracing the ease of digital payment during the outbreak. In Pakistan there is a tiny fraction of nearly $4 trillion transactions are processed through digital channels. Pakistan has the third largest number of people worldwide without having access to bank services as per the World Bank.

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“Fintech offers a huge opportunity for Pakistan,” said Lakhani who was the former head of the nation’s biggest fiber-broadband company, StormFiber.

NayaPay is currently building an online payment system for small and medium-sized businesses like Square, WeChat Pay and Venmo. The company plans to have the five-million customers as well as 300,000 merchants within five years, as stated by Lakhani.

Saison Capital, Lakson Group Waleed Saigol’s Maple Leaf Capital and Warren Hogarth of Empower Finance also participated in the round.

“While the beginning of their rise, Pakistani fintechs have the benefit of learning from other companies and making more informed strategic choices,” said Faisal Aftab co-founder of Zayn Capital.