Aga Khan network's Accelerate Prosperity backs KalPay
The Lahore buy now pay later fintech takes an undisclosed investment to extend Shariah compliant financing for education and essential assets.
Accelerate Prosperity, an initiative of the Aga Khan Development Network, has invested in KalPay, the Lahore fintech that offers interest free instalment plans structured on Shariah principles, Digital Pakistan reported on 29 December 2025. The amount was not disclosed.
KalPay said the funds would help it expand operations and national reach and bring more households access to education and essential assets. The company runs two main products: KalPay Taleem, which finances education and skills development fees, and KalPay Rasayi, which offers short term instalments for items such as laptops, mobile phones and electric vehicles.
cofounder and chief executive Shershah Hassan said the investment strengthened KalPay's ability to scale Shariah compliant, transparent financing for education and essential assets, according to the report.
The deal follows a May 2024 early stage round led by Orbit Startups, with Super Capital VC, Bansea and Singapore's Sabr Capital participating, in which KalPay said it had reached profitability. Profit magazine reported that round at more than $1 million in equity and debt. In October 2025 the company signed a memorandum of understanding with The Millennium Education to offer instalment plans for tuition, courses and learning equipment.
KalPay launched in June 2021 and its cofounders, Hassan and Waleed Amjad Islam, were named to the Forbes 30 Under 30 Asia list in 2023. The company has not published customer or loan figures.
