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Two years ago, a group of entrepreneurs in Pakistan began surveying the market to understand why financial services weren’t reaching the majority of merchants in the world’s fifth most populous nation. On Friday, Tiger Global said it is backing their startup, CreditBook , to help address those challenges.
Taha Ahmed and Rooshan Aziz left their jobs in strategy consulting and investment banking in London earlier this year in order to found a mobile-only education platform startup, Maqsad , in Pakistan, with a goal “to make education more accessible to 100 million Pakistani students.”
The new plans come after the startup secured $3 million in seed funding in a round led by Indus Valley Capital, Zayn Capital and Fatima Gobi Ventures, the first time that the three Pakistan-focused VCs are investing in a startup together. Colabs wants to be the gateway to Pakistan for tech companies and a launch pad for startups.
Rali_cap , an early-stage venture capital firm focused on emerging markets fintech, has launched a $30 million fund. Last month, the firm, formerly known as Rally Cap Ventures, reached its first close of $20 million (its initial target) before increasing the fund size, signaling a strong LP appetite. About 40% are based in the U.S.,
million in pre-seed funding from Tiger Global and Zayn Capital. This marks the first time Tiger Global has made a pre-seed investment in a Pakistani startup. The manufacturing sector in Pakistan has been operating with very marginal innovations since decades, WhatsApp being the only notable change in how processes have evolved.
As the market swoons, venture capital firms continue to announce new funds. Meanwhile, I corresponded with three firms about their funds and any concerns that limited partners had brought up during the fundraising stage. As the global venture capital market slows, is the US dodging the downturn?
Pakistan-based fintech platform, NayaPay , has raised $13 million in a seed round to rollout its multi-service messaging and payment app, and to build payment acceptance and financial management tools for businesses in the South Asian country. The youth and freelance communities in Pakistan are also majorly locked out by traditional banks.
Now it’s set a goal of investing in 100 more startups with the launch of its second emerging market seed-stage fund, called Seedstars International Ventures II (SIV), with a first close of $20 million. One difference between SIV II and the first fund is that it can writer bigger checks. It will also have a tighter geographical focus.
The founders of Tazah Technologies , a B2B agriculture marketplace in Pakistan, met while serving leadership roles at Uber subsidiary Careem. The startup, which launched two months ago in Lahore, announced today it has raised a $2 million pre-seed round led by Global Founders Capital and Zayn Capital.
The number of global retailers, department stores and supermarkets operating in Pakistan is increasing, which spells convenience for consumers, but trouble for kiryanas, or small general stores. million pre-seed funding round led by Zayn Capital’s BitRate Fund with participation from Antler and Century Oak Capital.
million users with over 8,000 merchants across 500 cities in Pakistan, and is on track to having a monthly loan book of more than $12 million. PostEx co-founder and CEO Omer Khan told TechCrunch that according to the World Bank, about 100 million adults in Pakistan don’t have a bank account. PostEx will now serve 1.3 It has raised $8.6
Zola Electric , one such provider, is announcing today that it has closed $90 million in new funding to enter new markets and drive distributed renewable energy. ” The $90 million funding raised is a combination of debt and equity, $45 million each. Brazil, Pakistan, and the Philippines. ” More than 1.5
Shanghai, Hong Kong December 12, 2024 Gobi Partners, a leading pan-Asian venture capital firm, has officially announced the US$50 M Techxila Fund II alongside the signing of a Memorandum of Understanding (MOU) with the Bank of Punjab (BoP). The MOU with BoP establishes a robust framework to advance Pakistans entrepreneurial ecosystem.
Grassroots Pakistan ● grassrootspakistan.ngo. Mission: To ensure corporations respect human rights in their global operations. Mission: To fund social entrepreneurs in the developing world through crowdfunding. Fundação Roberto Marinho ● frm.ong. International Corporate Accountability Roundtable ● icar.ngo. United States.
After its Egypt launch, Swvl expanded to Kenya, Pakistan, Jordan and Saudi Arabia. The company also moved its headquarters to Dubai as part of its strategy to become a global company. Swvl offerings have expanded beyond bus-hailing services.
STV led the round, with Raed Ventures, Global Founders Capital, Upper90 and VentureSouq participating. San Francisco-based venture debt fund Partners for Growth funded Opontia’s debt financing. In terms of the biggest markets for us, it’s Poland, Turkey, Saudi, UAE, Nigeria, after that is Egypt and Pakistan.”
Funding rounds in the logistics and infra markets: We went physical-world with our funding round roundup this week. BridgeLinx put together the largest seed round in Pakistan’s history , Releaf is doing incredibly interesting agtech work in Nigeria and Stord’s huge round from earlier in the week brought us to Atlanta.
Cross-border remittances — when people living and working abroad send money back home to friends and family — continues to be a huge part of how those living in developing countries, off the global financial grid, can be helped. on 2020, as parts of the global economy started to claw back growth after a tough 2020 due to Covid-19.
This downsizing from the Dubai-based startup adds to the long list of global cross-stage layoffs in what has been a rough month for tech employees. SWVL is present in 13 markets globally: the UAE, Egypt, Kenya, Germany, Spain, Italy, Switzerland, Turkey, Japan, Argentina, Saudi Arabia, Jordan and Pakistan.
JUMO , a South Africa- and London-based company that offers financial services to entrepreneurs and businesses in emerging markets, has raised $120 million in a new round of funding led by Fidelity Management & Research Company. So far, JUMO has served loans worth over $3.5
Bfree , a Nigerian credit management fintech, has embarked on global expansion after raising $1.7 Funds that participated in the latest round included 4Di Capital, Octerra Capital, VestedWorld, Voltron Capital, Logos Ventures and several other angel investors, bringing the total capital raised by the Lagos-based startup to $2.5
Anyone who has followed global news events of late will have noticed the devastating floods that have engulfed pretty much every corner of the world, from the U.S. and Europe , to Africa , Australia , and Asia, where India and Pakistan have been hit by some of their worst floods in recent memory. ” Startups to the rescue?
For us, the opportunity is not about taking market share from other players, it’s really about expanding the awareness of online work and hiring these virtual global teams as an alternative to traditional way of recruiting or building a company,” he said. But managing someone online is entirely different than working with someone in person.
A freshly funded player is PixCap , which is entering the fray with a no-code, web-based 3D design tool. million from a seed funding round. Typical of many SaaS startups today, PixCap’s team of 15 members is located across the world — India, Pakistan, the U.K., Founded in 2020, Singapore-based PixCap just secured $2.8
George Durham, Program Manager, Microsoft Global Community Affairs On January 12th, 2010, a devastating earthquake ripped through the Haitian landscape, literally decimating cities like Leogane, Petit Goave, and much of Port-au-Prince. George Durham is a Program Manager with Microsoft’s Global Community Affairs team.
What size is your staff, where are the offices located, and has the company ever raised funding? Funding is still “friends and family” We never did an institutional round of financing. Viber is quite global. We recently announced partnerships with Axis in Indonesia and Mobilink in Pakistan.
The financing was led by the Steele Foundation for Hope , a nonprofit organization that says it’s focused on finding and funding lasting solutions for some of “humanity’s hardest challenges.”. They receive financial help and support from external partners and organizations like the GlobalFund, USAID and Gavi, the Vaccine Alliance.
The country ranked fourth on Chainalysis’ Global Crypto Adoption Index , behind only Vietnam, India and Pakistan, and about $8 billion of cryptocurrency passes through the country annually. Nine people have to sign off on the funds being dispersed; NEAR’s Polosukhin is one of the signers. It’s not just Polosukhin.
Jacqueline Novogratz , the founder and CEO of the Acumen Fund , is certainly one leader from the field of social innovation whom I find incredibly inspiring and thought-provoking. The purpose of ThinkSocial. But, Jacqueline and Acumen are beacons for more than just social enterprise.
This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon. 401(k) provider Human Interest , which recently increased total funding to $500 million, including an investment from BlackRock, has 23 open roles, including in engineering, product and revenue.
This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon. of the Fintech Fund, Jay Ganatra of Infinity Ventures — clearly took their time to provide nuanced answers that help give us a better picture of the current fintech investment landscape.
The Ukrainian crisis, climate change, health, and cybersecurity were just some of the topics discussed at this year’s NetHope global summit. Because when you look around at today’s crises — whether that’s the recent floods in Pakistan or providing meals to children during the pandemic — you see nonprofits helping, solving, and rebuilding.
According to data from Crunchbase , during 2023, total global venture capital is expected to reach its lowest level in five years at $285 billion, a 38% decrease from the $462 billion seen in 2022. From garnering attention to leading change Londons attractiveness as a tech hub has seen funds pour into the city from around the world.
In a new campaign to raise awareness about the challenges - and opportunities - in a world of 7 billion, the United Nations Population Fund (UNFPA) has urged the world to take action to reduce the disparities in which hundreds of millions of people in developing and least developed nations lack the most basic ingredients for a decent life.
Bill Somerville makes the search for innovative funding opportunities sound like an Indiana Jones adventure. It's the do-good adventure story of a former mountain climber who has spent almost 15 years building schools in remote mountain villages of northern Pakistan, Afghanistan, Kyrgyzstan and Mongolia. tools, it was about how Web 2.0
This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon. The company has raised over $86 million over its lifetime and counts NewView Capital and SoftBank’s SB Opportunity Fund among its backers. Another day, another Q2 funding report.
After working as an investment banker in Canada for a decade, Halima Iqbal moved back to Pakistan in 2017 and quickly realized how difficult it is for women to access financial services. “I Oraan has now raised just over $4 million in funding. I had a really hard time opening up a basic bank account. Iqbal said. .
A one-year-old startup that is attempting to build the railroads for e-commerce in Pakistan has just secured a mega round of funding in a major boost to the South Asia nation’s nascent startup ecosystem. Airlift operates a quick commerce service in eight cities, including Lahore, Karachi and Islamabad in Pakistan.
Whether it’s global heatwaves, flooding in Pakistan, Canadian wildfires that block out the sun, decade-long droughts in Africa, or ever more powerful hurricanes, natural disasters have our attention. Two decades later, disaster recovery remains an essential part of wildfire funding. That is no longer the case.
And today, the company is announcing that it’s just closed a $6 million seed round led by Global Founders Capital that included participation from firms such as Soma Capital, Graph Ventures, Adapt Ventures and OldSlip group. Ridwan and Zen previously worked at companies such as Square, CashApp, Shopify and Uber. Sign up here !
Egyptian fintech Paymob , which enables merchants to accept digital payments online and in-store, announced today it has raised $50 million in Series B funding. PayPal Ventures, the global corporate venture arm of PayPal, New-York-based venture capital Kora Capital, and London-based Clay Point led the round.
An additional $15 million was raised from the same investors led by Dubai-based VC firm Global Ventures. Other investors include Egyptian investment fund A15 and Dutch development bank FMO. Asides from Egypt, Paymob is also present in Kenya, Pakistan, and Palestine. In July 2020, Paymob raised $3.5 The total raise of $18.5
Looking ahead, what key policy changes or initiatives do you believe are essential for driving technology and the adoption of different solutions globally? The secretary-general has already warned that we have gone from global warming to global boiling. How can we further global development? So it is a major challenge.
TechSoup Global’s Dara Westling attended the recent Global Donors Forum in Washington, D.C. She is our vice president of development alliances and global media for TechSoup Global’s domestic and international programs. We connect the local with global resources.” Dara Westling.
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