KMG Acquires Stake in F1Soft International

Kantipur Media Group (KMG) has acquired a stake in F1Soft International, the developer of e-Sewa, an online payment gateway that has been helping millions of Nepalese get mobile financial services.

A statement issued by F1Soft quotes its president Biswas Dhakal as saying, “This partnership with KMG will help us to expand our services nationwide. This partnership will also help us to generate awareness about financial technology products and raise people’s access to mobile banking and mobile financial services.”

The statement added, “The products of F1Soft will facilitate people to make online transactions even in remote areas where there is no presence of brick-and-mortar bank branches. We are also making efforts to cater affordable services to Nepalis, who want to send home money from abroad.”

F1Soft with KMG plans to develop financial technology to suit local needs. Dhakal says, “We believe, this partnership will be a milestone in development of information technology and financial technology sectors.”

About the Companies

F1Soft International

F1Soft International Pvt. Ltd. is a company working in the field of software development and IT services since 2004. Their products include Mobile Banking System, Internet Banking System, Tab Banking System, Cards Management System, Digital Wallet and Online Payment Gateway. F1Soft products are being used by 95% of banks and financial institutions in the country. These products have helped people in Nepal to pay utility bills, make online payments and remit funds.

Kantipur Media Group (KMG)

KMG is the largest media group of the nation consisting of English and Nepali national dailies, number of magazines and tabloids, two national television stations, a national radio and the first of its kind digital media company.