Venture Funding and Optimism Rise in Pakistan’s Burgeoning Startup Scene

Record Levels Of Funding Are Pouring Into Pakistan-based Startups, Boosting Hopes Of A Brighter Economic Outlook For The World’s Fifth Most Populous Country. Startups There Took In $85m In Venture Funding So Far This Year outpacing The $66m Raised In All Of 2020 and Venture Firms Continue To Build Their War Chests.

Fintech Companies Received About A Fourth Of The Vc Investment So Far This Year. They’re Finding Plenty Of Overseas Investors Eager To Address The World’s Third-largest Unbanked Population In What’s Being Called A “fintech Revolution. ” In Pakistan, 71% Of Adults In The Country Lack A Bank Account, One Of The Highest Rates In The World.

“Pakistan’s Fintech Wave Is Just Starting,” Proclaimed Tag Innovation Pvt. Founder And Ceo Talal Gondal As The Islamabad-based Startup Announced $5. 5m In Seed Funding To Become The Country’s First Digital Bank.

Islamabad-based Fintech Sadapay Raised $7. 2m—reportedly The Largest Seed Round Ever In The Country—for A Personal Debit Card And E-wallet That Still Awaits Regulatory Approval. Trading App Ktrade—dubbed The “robinhood Of Pakistan” raised $4. 5m After Amassing 200k Users Since Launching In 2019.

U.S based Mega Firm Kleiner Perkins Made Its First Investment In The Country a $17m Round For Tajir, A B2b Marketplace Based In Lahore That Enables Small Business Owners To Buy From Manufacturers And Wholesalers. Another B2b Marketplace, Bazaar, Raised A $6. 5m Seed Round. Abhi which Means “now” In Urdu raised $2. 1m For Its Early Wage Access Platform And Is Headed To Y Combinator

There’s Plenty Of Action In Other Sectors, Too.

At The Recent Pakistan Startup Cup, Pakistan’s Largest Startup Competition, An App For Moms Called Scaryammi Took Home The Grand Prize; Second Place Went To A Building Visualization Company, Mimar; And Third Went To An Ai-based Career Counseling Tool For High School Students Called Merafuture.

All The Momentum Led Investor Khailee Ng To Conclude Earlier This Year: “there Will Be Unicorns From Pakistan”.[/vc_column_text][/vc_column][/vc_row]