State Bank of Pakistan revoked TAG Innovation’s in-principle and pilot approval to operate as an EMI and ordered it to close customer wallets and remove its apps.
SourceTAG is the First Digital Bank (Chime/Revolut/N26) for Pakistan
Public company, workplace, funding, and market signals
TAG (TAG Innovation Pvt. Ltd.) is a Pakistan fintech / digital bank founded in 2020, best known for a consumer banking app with E-Money accounts, a Visa debit card, transfers, bill payments, and salary/payroll features for unbanked Pakistanis. Public historical sources identify the fintech, but the live tagme.pk domain currently appears to host unrelated B9 Game casino content, so the company’s own domain is not a reliable current source.
Primary product
Digital banking / financial super-app with E-Money accounts and Visa debit cards
Founded
2020
Headquarters
Islamabad, Pakistan
Team size
11-50
Industry
Financial Services
Sub-industry
Fintech / digital banking / neobank / EMI
Offices
0 jobs at TAG
Check back later for new openings
Business model
Stage
seed
Total raised
$17.6M
Latest round
Seed · Sep 2021
Latest amount
$12M
Investors
Public bios and interviews emphasize financial inclusion, people-first leadership, flat structures, and end-to-end ownership.
Differentiators
Technology
Customers
Competitors
Estimated revenue
Estimated ARR around $7.4M in 2024
State Bank of Pakistan revoked TAG Innovation’s in-principle and pilot approval to operate as an EMI and ordered it to close customer wallets and remove its apps.
SourceSBP previously ordered TAG Innovation to refund all outstanding customer wallet funds after identifying regulatory violations and other concerns during pilot operations.
SourceWhen retrieved, the current tagme.pk homepage did not appear to be TAG fintech; it showed a B9 Game casino site, suggesting the domain may be repurposed or compromised.
SourceAccessWire · Jan 2023
Company press release announcing the TAG banking app launch, describing three-minute account opening, Visa debit card issuance, and broader digital banking features.
Dawn · Oct 2022
SBP revoked TAG Innovation’s EMI approvals, ordered customer wallets closed, and directed the app be removed from app stores and other platforms.
TechCrunch · Oct 2022
TechCrunch reported the SBP revocation, the closure of wallets and app removal order, and described the move as an existential threat to the company.
TechCrunch · Sep 2021
TAG raised over $12M in a seed round, bringing total funding to over $17.5M, and was valued at $100M; investors included Liberty City Ventures, Canaan, Addition, Mantis, and Banana Capital.
MENAbytes · Jun 2021
MENAbytes reported TAG’s $5.5M pre-seed, founders, Y Combinator Summer 2021 acceptance, and the product’s initial digital banking capabilities.