Pakistan’s SLG-Trax Moves to Acquire Singapore’s Finova

Secure Logistics Group Limited (SLG-Trax), a leading logistics and e-commerce solutions provider in Pakistan, has announced its intention to acquire Singapore-based Finova Technologies. The listed company announced the development in a notice to the Pakistan Stock Exchange (PSX) on Friday. This move could reshape the digital payments and lending landscape for the country’s e-commerce sector. The announcement follows the recent award of a Non-Banking Financial Company (NBFC) license to LogiServe (Pvt) Ltd, a wholly owned subsidiary of SLG-Trax, by the Securities and Exchange Commission of Pakistan (SECP) on August 19, 2025. The license allows LogiServe to offer a suite of digital financial services, including COD-backed working capital loans, invoice discounting, merchant virtual accounts, and a digital payment gateway. According to a public statement sent to the SECP, Pakistan Stock Exchange, and Finova’s management, SLG-Trax’s Board of Directors has approved the start of good-faith negotiations for the acquisition. The deal, subject to due diligence and regulatory approvals, would give SLG-Trax full ownership of Finova’s intellectual property suite and potentially operational control of the company. Finova’s fintech software, already piloted with select SLG-Trax retail clients since February 2025, has facilitated financing for 1.2 million shipments, Rs17 billion in wallet payments, and Rs. 3.5 billion in lending throughput. If the acquisition is finalized, SLG-Trax plans a formal launch of its NBFC operations in the fourth quarter of 2025, deploying the fintech platform across its network of 9,000 retail and 300 corporate e-commerce clients. The company says the move is part of a broader strategy to expand its e-commerce business line, offering merchant-centric digital payment portals, lending management systems, and an AI-powered credit engine. The acquisition is expected to boost operational efficiency and profitability, while also opening opportunities to market the fintech software in other countries.