January 13, 2020, Lahore – The International Finance Corporation (IFC), a member of the World Bank Group, announced today that it will be investing in OneLoad, a digital wallet and payment system developed by EP Systems (Pvt.) Ltd, a subsidiary of Systems Limited (SYS).
The global financial institution will purchase approximately 20% of the company, making OneLoad the first fintech product to receive investment from IFC in over a decade. Up to two IFC executives will also sit on EP Systems’ board of directors.
“We are ecstatic about IFC’s decision to become an important part of our organization’s story,” said Muhammad Yar Hiraj, CEO, EP Systems. “We have always been very proud of the work we’re doing, and the way that OneLoad empowers the people of Pakistan, especially those that don’t have access to traditional banking services. IFC’s interest in our organization and its mission is the latest in a long series of indicators that OneLoad is force for positive change in the country. We eagerly look forward to the inevitable amplification of that change, thanks to IFC’s participation.”