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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.”
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.
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.
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.
The founders of Tazah Technologies , a B2B agriculture marketplace in Pakistan, met while serving leadership roles at Uber subsidiary Careem. When asked how they got from ride-hailing to agri-tech, Bajwa told TechCrunch that the two grew up in farming communities. Eventually, the two started talking about creating their own startup.
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 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.
Women Who Tech Around the World. Yesterday, I had the honor of participating in the 4th annual Women Who Tech TeleSummit that brings together women breaking new ground in technology who use their tech savvy skills to transform the world and inspire change. What challenges do women who tech in Africa and Middle East face?
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
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.
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.
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.
The company’s business team operates primarily from the UAE, while tech and engineering is based out of Canada with a few engineers that work remotely from the U.S. “We did this to be able to leverage North American tech talent, many of whom my co-founders have been working with at their former roles,” Aziz said.
Credable also provides an end-to-end solution without exposure to credit risk by partnering with balance sheet providers (usually tier-two financial institutions that struggle to access new customers because they lack relationships with tech-enabled businesses.
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. Rising African venture investment powers fintech, clean tech bets in 2020.
Tech companies, private and public, have faced a reckoning in the past few months with their valuations taking a beating. 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. Over 15,000 tech workers have lost their jobs in the U.S.
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. Basically, we provide most, if not all, of the services that may be needed by a modern tech startup to get to a production-ready solution.
An offer they couldn’t refuse : It looks like Egyptian fintech Paymob snagged one of the largest funding deals in the region — a $50 million Series B, with PayPal Ventures and Kora Capital leading — based on its ability to turn cash-loving customers into digital users with its cards and wallets. Big Tech Inc.
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.
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.
Say it louder for the people in the back: As tech grows bigger by the minute and venture capital adds dollar signs by the day, a startup hub’s success is not an either/or situation. Building tech for worker safety, Guardhat Technologies is a company that could only come from Detroit. billion raised for its latest fund.
million in seed funding. The round, which Maya said is the largest raised by a Bangladeshi health tech company so far, was led by early-stage fund Anchorless Bangladesh and The Osiris Group, a private equity firm focused on impact investing in Asian markets. The startup announced today it has raised $2.2
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
For many tech workers, this is the first time they’ve experienced real uncertainty. With flair, Dutch’s deck tells a convincing story of how the company used its seed funding to launch a service within three months, establish a brand identity, build a team and expand from 12 to 32 states. Purposeful in Pakistan.
In tech-savvy Ukraine, crypto has emerged as a quick and easy way to handle this money. Ukraine is known for its tech talent, with more than 200,000 tech workers, and its IT export business did $6.8 Nine people have to sign off on the funds being dispersed; NEAR’s Polosukhin is one of the signers.
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
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.
Lmng : Bitwarden’s ability to generate hard-to-guess passwords has made it attractive to investors who just pumped $100 million of new funding into the company, which aims to rid the world of people using the same passwords across their personal and business lives, Paul writes. Big Tech Inc. You can sign up here.).
In conversations about freelancing and online marketplaces for remote contract workers of the tech industry, the name of oDesk floats up pretty often. Among other fastest-growing client countries one can also find Latvia, Pakistan, Romania, Lithuania, and Malaysia. million jobs. Have laptop – will freelance.
and Europe , to Africa , Australia , and Asia, where India and Pakistan have been hit by some of their worst floods in recent memory. As such, we’re seeing all manner of climate-tech startups enter the fray, even companies that weren’t initially focused on climate at all.
Attempting to summarize the current state of the international tech industry is a tricky business. Statistics show that the number of redundancies at global tech companies increased by 59% in 2023 compared to the previous year, affecting 262,700 people. Meanwhile, layoffs are also occurring more widely. London startups raised over $12.9
For example, basic SMS and telephone messaging are being used to educate students in remote areas of Pakistan, to control the spread of HIV/AIDS in South Africa, and to raise funds for East African drought relief. The Difference Technology Makes.
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.
“We incorporated those lessons into how we’ve built up the tech at Fenix from day one, and it’s really paying dividends as we’re now able to spin out new products basically every quarter with a very lean, high-velocity tech team,” said Dhanoa. Image Credit: Fenix.
Tooling around : Two years ago, two former Palantir engineers started Kurtosis, a crypto-focused developer tool system, and have now raised $20 million in fresh funding to hire a team to get a new product out in the next year, Jacquelyn reports. Big Tech Inc. The TechCrunch Top 3. You can sign up here.).
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.
Startups and VC Bringing us a reminder that a company’s services may be at the mercy of state governments from time to time, Pakistan has “degraded” Wikipedia in the country for 48 hours for not removing “sacrilegious contents” and warned of fully blocking the site if the online encyclopedia fails to comply with the directions, Manish reports.
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.
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.
A source tells us Founders Fund is also investing. Such decisions must not be delegated to unelected tech leaders. ChatGPT is a general-purpose chatbot that uses artificial intelligence to generate text after a user enters a prompt, developed by tech startup OpenAI. Should we risk loss of control of our civilization?
The second is a crisis of the climate, which is hanging like a sword over humanity whether it was the hurricane in Florida, which upended lives and livelihoods, or the floods we have seen in Europe and China, and today in Pakistan, 60% of the country was under water. We are happy to see the Loss and Damage Fund is coming.
to report on Tech for Good trends and also to find out how things are going in one of the most challenging areas of philanthropy: providing much needed help and support to people in the Muslim world. The most populous Muslim country is Indonesia , followed by India, Pakistan, Bangladesh, Nigeria, and Egypt. Dara Westling.
A report last year by the federal governments National Toxicology Program, which summarized studies conducted in Canada, China, India, Iran, Pakistan and Mexico, concluded that drinking water with more than 1.5 And studies also have traced a link between excess fluoride and brain development. Many never restarted, Parker said.
The stop in sharing data was “due to funding constraints that have caused the Department to turn off the underlying network” read the statement, which added that embassies and consulates were directed to keep their monitors running and the sharing of data could resume in the future if funded was restored.
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