Dbank raises $17m as it focuses on pan-Islamic underbanked

Dbank, a Pakistani fintech which has ambitions to bring inclusive financial services to underbanked people across the pan-Islamic world, has raised $17.6m.

The seed round was led by Sequoia Southeast Asia and Kleiner Perkins. Joining in were Brazilian digital banking giant Nubank, RTP Global, Rayn and Askari Bank.

Dbank was formed by two former Google employees, Tania Aidrus, who at Google focused on helping move economies from cash to digital, and Khurram Jamali, former head of partnerships for payments.

Dbank has applied for a digital retail bank license in Pakistan.