Worldlink Communications, Nepal’s largest internet service provider, has invested in Khalti digital wallet. After this investment, WorldLink will have 40 percent equity ownership in Nepal’s leading digital wallet pocket.
Worldlink, which provides facilities through internet services in all 77 districts of Nepal, has invested in pockets with the goal of providing financial access to remote and rural areas.
Khalti is also working for financial access and financial inclusion in Nepal. The company believes that this partnership between Worldlink and Khalti will help in providing financial access to urban as well as rural areas.
Worldlink, which was established 25 years ago, has been extending its services to the rural areas of Nepal in recent years and connecting the remote areas with Internet connectivity.
“Worldlink is expanding the internet service in Nepal’s urban areas and in rural and remote areas,” said Dilip Agarwal, President of Worldlink, “this collaboration will prove to be a milestone for strengthening Nepal’s information technology.”
Chairman Agarwal believes that the cooperation with Khalti will help in providing financial access along with Internet connectivity to the remote areas of Nepal and to achieve the goal of Digital Nepal.
According to Agarwal, this example of indigenous investors investing in indigenous startups is a sign of hope for other investors and emerging startups in the future.
“This will increase the confidence that startups with innovative ideas can raise investment in the country,” Agarwal said.
Established 5 years ago, digital wallet pocket has created a distinct identity among users. Khalti Digital Wallet has been providing services since 2017 as a payment service provider and licensed to operate Swadeshi Remittance services from Nepal Rastra Bank.
Millions of users are using Khalti to recharge phones, pay internet, TV bills, pay insurance premiums, government revenue as well as buy domestic flight tickets, pay online shopping sites and many other services.
Amit Agarwal, co-founder of Khalti, said that Worldlink’s investment will help to realize Khalti’s plan to provide financial access for all. He said that with the investment coming in from Worldlink, Khalti will work to ensure everyone’s access to finance.
There are currently more than 200 employees in the pocket. There are more than two million regular users of Khalti across the country. At present, more than 90 percent of Nepal’s banks and financial institutions are affiliated to Khalti.
Worldlink is a leading brand in Nepal’s information technology sector. With more than 5 lakh 43 thousand customers, Worldlink is the largest internet service provider in Nepal.
Britain’s Development Finance Institute (CDC) Group has also invested in Worldlink, which aims to include Internet services in all areas of Nepal. Worldlink has previously invested in various latest businesses related to NetTV and other technologies.
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