Nepal’s first-ever digital wallet company eSewa Private Limited is going public. Licensed as a Payment Service Provider (PSP) by Nepal Rastra Bank, the company launched its online payment services in 2010 and has become the country’s largest mobile payment vendor as it enters its 15th year in service. Now, it’s eyeing further expansion by becoming a publicly traded venture.
The company has received approval from the central bank NRB to become a public company.
A few months ago, eSewa submitted its application to NRB seeking permission to go public. After performing the necessary assessment, the regulatory bank approved the digital payment company’s wish.
Who owns eSewa?
The ISO 27001:2013 certified company is owned by F1Soft International, Nepal’s leading FinTech company with its shares split among entrepreneurs. Bishwash Dhakal owns 35 percent shares in eSewa, and Asgar Ali has 25 percent shares. Sambahv Sirohiya and Subash Sharma own 20 percent and 10 percent stakes at the leading mobile payment company. The remaining 5 percent of shares are owned by the employees.
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eSewa is preparing to issue IPO with premium shares for the public which should be a potentially big draw to the public as the company sees over 5 lakh daily transactions on mobile and PC.
In Nepal’s crowded digital wallet market, eSewa dominates with over 80 percent market share.