Pakistan’s Secure Logistic-Trax Ltd (SLG-Trax) has approved talks to acquire Singapore-based Finova Technologies, following the grant of an NBFC (Non-Banking Finance Company) license to its subsidiary LogiServe (Pvt) Ltd.
The listed company disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday.
“Following up on the issuance of NBFC license to LogiServe (Pvt) Ltd, a fully owned subsidiary of SLG-Trax by the Securities & Exchange Commission of Pakistan (SECP) on August 19, 2025, the Board of Directors of SLG-Trax has approved to initiate good-faith negotiations for the acquisition of Finova Technologies (Pvt) Limited, a Singapore-based provider of supply chain finance solutions,” read the notice.
The company shared that Finova is a Singapore based entity involved in developing and providing digital payments and smart lending solutions.
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However, the proposed acquisition is subject to the completion of due diligence, regulatory approvals, and mutual agreement on definitive terms and conditions.
“This will result in SLG-Trax obtaining full ownership of the intellectual property suite of a major fintech software and possibly the operational control of Finova,” read the notice.
It was learnt that the fintech platform has already been piloted with select SLG-Trax retail clients, facilitating 1.20 million shipments, Rs17 billion in wallet payments, and Rs3.50 billion in lending throughput since February 2025.
Following the acquisition, SLG-Trax plans to formally launch its NBFC operations in Q4 2025, with the fintech software set to be rolled out to its 9,000 retail and 300 corporate e-commerce clients, it shared.
The platform includes a payment portal, lending management system, and AI-powered credit engine, aimed at embedding financing within logistics and delivery processes.
“The NBFC initiative backed by the fintech software will not only add operational efficiencies but also provide a substantial impetus to SLG-Trax’s E-Commerce bottom line through the lending spread.
In addition, the acquisition of a full suite of IP-backed fintech software, along with the possible operational control of Finova, will provide SLG-Trax with the ability to market the software in other jurisdictions,” read the notice.
SLG-Trax is a publicly listed 4-PL entity with four subsidiary companies.
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