Pakistani Logistics Giant SLG-Trax eyes Singapore FinTech acquisition

October 03, 2025 (MLN): Secure Logistics-Trax Ltd (SLG-Trax), a leading Pakistani logistics and e-commerce solutions provider, is set to acquire Finova Technologies (Pvt) Limited, a Singapore-based supply chain finance solutions company.

The acquisition marks a significant expansion of SLG-Trax's digital financial services capabilities.

The Board of Directors of SLG-Trax has approved initiating good-faith negotiations to acquire the intellectual property suite of Finova's major FinTech software platform, with possible operational control of the Singapore-based entity.

The declaration follows the Securities & Exchange Commission of Pakistan (SECP) granting a Non Bank Finance Company (NBFC) license to LogiServe (Pvt) Ltd, a fully owned subsidiary of SLG-Trax, on August 19, 2025.

Since February 2025, Finova's FinTech software has been deployed with select SLG-Trax retail clients as part of a pilot project.

The results demonstrate substantial market traction, with the platform facilitating the financing of 1.20m shipments, processing Rs17bn in wallet payments, and generating Rs3.50bn in lending throughput.

These impressive figures validate the platform's capabilities and market readiness ahead of the formal NBFC operation launch expected in Q4 2025.

The acquisition aligns with SLG-Trax's strategic objective to expand its e-commerce business line.

The FinTech software will be deployed across SLG-Trax's extensive network of 9,000 retail and 300 corporate e-commerce clients, enabling the development of a merchant-centric digital processing platform for deliveries embedded with lending solutions.

The software's key modules include a payment portal, lending management system, and an AI-powered credit engine.

According to the company proclamation, the NBFC initiative backed by Finova's FinTech software will add operational efficiencies and provide substantial impetus to SLG-Trax's e-commerce bottom line through lending spreads.

Additionally, acquiring the full suite of IP-backed FinTech software and possible operational control of Finova will enable SLG-Trax to market the software in other jurisdictions, opening new revenue streams.

SLG-Trax is a publicly listed 4-PL entity operating four subsidiary companies. The company offers comprehensive first-to-last mile logistic solutions, including long-haul, medium-haul, and last-mile logistics, along with e-commerce and warehousing services. Its operations are supported by in-house security services and IoT/Asset Tracking capabilities.

The Pakistan Credit Rating Agency Limited (PACRA) has assigned SLG-Trax a long-term rating of A+.

Finova Technologies is a Singapore-based entity specializing in developing and providing digital payments and smart lending solutions.

The company focuses on enhancing efficiency and transparency in supply chains by providing tailored financial solutions that address unique challenges faced by businesses in diverse markets.

The proposed acquisition is subject to satisfactory completion of due diligence, regulatory approvals and mutual agreement on definitive terms and conditions.

SLG-Trax has indicated it will provide further updates about the transaction closing and formal launch of the NBFC initiative.

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