Pakistani startups that utilize artificial intelligence to improve personal finances can now apply for grants of up to £250,000. The GSMA Innovation Fund for AI-Enabled Financial Health is offering these funds to selected companies, which will receive between £100,000 and £250,000 each.
The fund is backed by the UK government’s Foreign, Commonwealth and Development Office (FCDO). Applications for the fund are open until December 17, 2026.
The fund is available to for-profit, private small and growing businesses located in low- and middle-income countries across Southeast Asia, South Asia, and Africa. Pakistan is listed as an eligible country, along with others including Indonesia, Nepal, Sri Lanka, and Bangladesh.
To be eligible, the fund’s terms and conditions state that applicants must already have revenue and users. Companies operating in Pakistan must be registered and operating within the country. Furthermore, applicants are required to provide matching funds of at least 25% of the requested grant. The projects are expected to run for a duration of 15 to 18 months.
GSMA is seeking AI solutions designed to help individuals manage money shocks, make better financial decisions, and establish long-term income and savings. Examples of such projects include job matching, price and market information, savings tools, AI fraud detection, and personal financial coaching provided in local languages.
Special preference will be given to applications from businesses that are locally led, those serving people with disabilities, girls, and women, and firms that mobile operators could help scale. In addition to the grant, winners will receive publicity through GSMA publications and events, as well as access to investors and technical help.
GSMA noted that account ownership in low- and middle-income countries rose from 42% in 2011 to almost 80% in 2024, largely due to mobile money. However, the organization stated that only about one in four of the world’s 2.3 billion registered mobile money accounts is used on a monthly basis.
This initiative follows a 2021 GSMA Innovation Fund that provided Rs. 146 million to three startups. Additionally, the body has previously urged Pakistan to reduce telecom taxes to encourage digital growth.
