KARACHI: foodpanda, an online delivery service provider, has entered into a strategic partnership with U Microfinance Bank (U Bank) to provide motorbike financing opportunities for its delivery riders.

Through this partnership, foodpanda riders will have access to relevant financing facilities to acquire motorbikes on easy monthly installments.

The Memorandum of Understanding (MoU) of this partnership was signed by Mariam Pervaiz, Chief Commercial Officer & Chief of Staff U Microfinance Bank and Muntaqa Peracha, Managing Director & CEO foodpanda, while the signing ceremony was presided over by Kabeer Naqvi, President & CEO – U Microfinance Bank in the presence of senior management officials from both the collaborating organizations.

Commenting on the partnership, Muntaqa Peracha, Managing Director & CEO foodpanda has said that foodpanda is not just a delivery platform that provides sustainable income opportunity to its riders but also puts their welfare as a priority.

“We are excited to partner with U Microfinance Bank which will benefit and create an impact in improving the lives of our riders. Partnerships like this will not only cater to the needs of our riders but will also result in better service to our customers,” he further added.

Speaking at the occasion, Kabeer Naqvi, President & CEO - U Microfinance Bank said that at U Bank, we have consistently been fostering strategic partnerships with various organizations to expand our outreach while uplifting the masses.

These partnerships not only are mutually beneficial, but overall help us create synergy and harmony amongst the industries in Pakistan. “We are glad to be entering into this collaboration with foodpanda and hope this loan facility can assist people towards having better employment opportunities and decent, sustainable livelihoods for themselves,” he added.

With this partnership, U Microfinance Bank will be extending credit facilities to foodpanda riders and a host of other banking services.

Copyright Business Recorder, 2022