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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.”
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. This is the New York-headquartered firm’s first investment in Pakistan. In Pakistan, there is a huge whitespace in payments.
A Pakistani startup, which has taken inspiration from China’s JD.com and India’s Flipkart to build a managed marketplace of electronics products, said on Tuesday it has raised seed funding from scores of investors including PayPal founder Peter Thiel. This is Thiel’s maiden investment in Pakistan.
and Lahore, Pakistan, become part of FreeWill, whose employee footprint for the first time will span beyond the United States. When we started GrantAssistant, our goal was to help nonprofits and non-governmental organizations get as much funding as possible by making the grant writing process easier,” said Hasnain.
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.
Jordan-based online learning platform Abwaab has raised $20 million in a Series A funding round (following a $5 million seed round in March of this year), making it one of the most funded edtech startups in the Middle East, North Africa and Pakistan (MENAP), a region that encompasses 160 million students.
The State Bank of Pakistan, the South Asian nation’s central bank, has ordered fintech Tag to “immediately” refund all funds to customers citing violation of regulatory requirements and “other concerns,” posing existential questions on the startup’s future.
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. Last month, Alaya had the first closing of $80 million in capital commitments for its third fund.
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.
The founders of Tazah Technologies , a B2B agriculture marketplace in Pakistan, met while serving leadership roles at Uber subsidiary Careem. We have spent months in wholesale markets, we’ve interviewed hundreds of retailers and we got to know that standardization of product is needed in Pakistan,” said Bajwa. “We
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. We align ourselves with a lot of the ESGs.”.
Pakistan’s embedded finance platform Neem has raised $2.5 million in a seed funding round as it works to support underbanked communities in the country. Citing industry figures, Shaikh said about 53 million people in Pakistan are currently underbanked. The startup was bootstraped before receiving the seed funding.
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. .
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.,
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.
Pakistan, the world’s fifth most populous country, has been slow to adapt to the internet economy. Unlike other emerging economies such as China, India and Indonesia, which have embraced digitization and technology, Pakistan has trailed the region in the adoption of technology and startup formation.
After leaving his job at Careem, Adil Nisar founded a company that sources, manufacturers and distributes lights in Pakistan, and experienced those challenges firsthand. Oware currently has 18 warehouses in five cities in Pakistan, with a total space of 500,000 square feet. Today the company announced it has raised $3.3
Obtaining raw materials is a major pain point for Pakistan’s manufacturers, who need to have multiple phone calls with suppliers while waiting for rates, say the founders of Zayare. million in pre-seed funding from Tiger Global and Zayn Capital. Zaraye intends to change that,” said Khan.
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
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
And I couldn’t help think to myself, “oh, so all we need to do to raise funds for a great cause is get a celebrity? This rebound was led by an enormous 163% increase in the International sector due to emergencies like the earthquake in Haiti and flooding in Pakistan. Both of them involved celebrities.
Recently, I presented a high level overview of crowdsourcing , including examples from the lens of funding and doing. What comes to mind when you think of the word crowdsourcing either for funding or doing? There are four different models of crowdsourcing activities: wisdom, creation, voting, and funding. 2) Crowd Creation.
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.
Canada, the United Kingdom, and Pakistan. We’re incredibly proud to host this event and raise funds in support of those in dire need around the world through Human Appeal’s emergency work.” A staple at interfaith events around the world, he has completed sold-out tours in the U.S.,
EduFi, a fintech startup that enables financially strapped students to secure loans for their education, has raised $6.1 million in a pre-seed round led by Zayn VC with participation from Palm Drive Capital, Deem Ventures, Q Business and angel investors.
Packard Grantees from Pakistan, with In-Country Team. 2) Should funders recommend capacity building consultants or require grantees use certain consultants for projects they fund? Non-profits: what kind of capacity-building support do you think is most needed in the country or region where you work? Why or why not?
million seed round from Unshackled Ventures, Kepler Ventures, On Deck, Basecamp Fund, Abstraction Capital, Unpopular Ventures, Darling Ventures and a number of industry angels. The brothers grew up in New Delhi in an area that was originally for refugees from when the British split India and Pakistan in the late 1940s.
Nigerian YC-backed startup Anchor comes out of stealth with $1M+ to scale its banking-as-a-service platform Pan-African early-stage VC firm Ventures Platform led the round, which welcomed participation from Launch Africa, MAGIC Fund, ACASIA Ventures, AAIC Investment, Adaverse/Emurgo Africa and other strategic angel investors.
Even as VC funding dries up across the world, development finance institutions (DFIs) are looking to African startups to deploy their dry powder. In addition to backing VC funds in the region, the organization aims to make more direct equity investments in startups, adding to the four African companies it invested in last year.
Pakistan’s growing tech ecosystem is finally taking off. So far this year, startups in Pakistan are on track to raise more than in the previous five years combined, according to Mikal Khoso, an early-stage investor at Wavemaker Partners. Pakistan’s growing tech ecosystem is finally taking off. That’s the good news.
. “ The startup plans to use its new capital to, naturally, do more hiring, as well as secure bank partnerships and licenses as it works toward launching Pluto in the UAE and Saudi Arabia in the short-term and in Egypt, Pakistan and Bangladesh in the longer term. Launching soon – a weekly fintech focused newsletter in your inbox.
Grassroots Pakistan ● grassrootspakistan.ngo. Mission: To fund social entrepreneurs in the developing world through crowdfunding. Fundação Roberto Marinho ● frm.ong. Mission: To promote the right to education and to preserve the environment and cultural heritage of Brazil. International Corporate Accountability Roundtable ● icar.ngo.
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.
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.” STV led the round, with Raed Ventures, Global Founders Capital, Upper90 and VentureSouq participating.
Facebook partners with mobile carriers in developing countries like Indonesia, the Philippines, and Pakistan to give users free access to Facebook and a few other websites, but users have been unknowingly getting charged by their cellular providers, according to a report from The Wall Street Journal. Illustration by Alex Castro / The Verge.
Today, the company has a few hundred employees distributed across Pakistan, Australia, Texas and Malaysia, but it continues to service startups of all sizes, says Bashir. Why do you have offices in Texas, Australia and Malaysia in addition to Pakistan, and what are the advantages of this setup and locations?
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.
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. Climate change funding is increasing dramatically.
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 Bfree , a Nigerian credit management fintech, has embarked on global expansion after raising $1.7
SWVL is present in 13 markets globally: the UAE, Egypt, Kenya, Germany, Spain, Italy, Switzerland, Turkey, Japan, Argentina, Saudi Arabia, Jordan and Pakistan. According to a source, the majority of the layoffs will come from the company’s Dubai and Pakistan offices. — announced during its SPAC merger — is uncertain.
Nine months after announcing a $5 million seed round , Toronto auto repair software company AutoLeap is back with $18 million in Series A funding, this time led by Bain Capital Ventures. Joining Bain in the round is existing investor Threshold Ventures, which led the seed round, to give the company $23 million in total funding.
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
After its Egypt launch, Swvl expanded to Kenya, Pakistan, Jordan and Saudi Arabia. This is pocket-friendly for residents in these markets compared to single-rider options and helps reduce emissions (Swvl claims it has prevented over 240 million pounds of carbon emission since inception).
In one development of that theme, today, Taptap Send — one of the startups building tools to manage these money transfers — is announcing $65 million in growth funding as it continues its mission to enable remittances specifically to the most overlooked countries.
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