Swedish fintech company Vopy, a portfolio firm of the investment group Front Ventures, is set to introduce a new payment service tailored for Pakistani freelancers. The company has secured a verbal order from a prominent digital bank in Pakistan to roll out this freelance payment platform aimed at simplifying and speeding up international payments for freelance consultants.
In a press statement released on Monday, Vopy confirmed that the order was placed following a visit by its management team to Pakistan, where they engaged with the client interested in launching the service as soon as possible. This service is designed specifically for freelance professionals, primarily in the IT sector, who perform assignments for companies located in Europe and the UK.
Vopy’s CEO, Sven Hattenhauer, highlighted the enthusiasm of their Pakistani client, who is eager to bring the service to market quickly. He mentioned that the digital bank has requested exclusive rights to the freelance payment platform, an arrangement Vopy has accepted. This exclusivity agreement is expected to result in higher revenues for the company. Hattenhauer expressed confidence that the cooperation agreement for freelance payments will be signed shortly, allowing the service to commence without delay.
The company emphasized its excitement about entering this new market segment and noted that the collaboration offers higher profit margins compared to Vopy’s existing product lines. The new service targets a growing user base of freelance consultants in Pakistan, a country where freelance work is expanding rapidly but lacks fast and cost-effective payment solutions.
According to Vopy’s statement, freelance payments to Pakistan currently total approximately $4 billion annually. Despite the Pakistani client already offering various services to freelance consultants, there is a clear gap in fast and affordable invoice payments — a gap that Vopy’s solution aims to fill.
The core of Vopy’s offering involves providing each freelance consultant in Pakistan with a personal European virtual IBAN account. This account allows clients in Europe to transfer payments with ease, eliminating the challenges of sending funds directly to Pakistan. Instead, payments are sent to the European IBAN account, streamlining the process for the payer and speeding up the delivery of funds.
Once the payments arrive in the virtual IBAN account, freelancers receive their money in local Pakistani bank accounts within seconds. This rapid transaction capability provides a significant competitive advantage for freelancers, who benefit not only from faster payment but also from considerably lower transfer fees compared to existing methods.
Vopy’s service improves the financial operations of freelance professionals by enabling a simpler, faster, and more cost-effective payment experience. This is especially important in the IT sector, where freelancers regularly work with clients across borders and require dependable and timely payment channels to maintain smooth business operations.
The company’s approach helps freelance consultants in Pakistan increase their competitiveness by offering clients a convenient and reliable payment option. This innovation aligns well with global fintech trends emphasizing seamless cross-border payments and digital banking solutions tailored to emerging markets.
With this upcoming launch, Vopy is positioning itself as a key player in Pakistan’s fintech ecosystem, supporting the country’s growing freelance economy with modern payment infrastructure. The partnership with the digital bank is expected to pave the way for further expansion and innovation in the region’s digital financial services landscape.
As Pakistan continues to see an increase in digital banking adoption and freelance work, Vopy’s service could serve as a benchmark for how fintech firms can bridge international payment gaps efficiently. The launch is anticipated to enhance the freelance payment experience and foster stronger economic ties between Pakistan and European markets.
