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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.
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.
BYD is aggressively expanding its global production footprint as the Chinese EV giant announced on Aug. 17 that it will open a car manufacturing plant in Pakistan. The new plant will be located in Karachi, the countrys largest city, and begin operations in 2026.
The company, having raised more than $90 million in total from investors such as Valar Ventures and Target Global, is also planning an expansion outside Africa to Pakistan.
” We’ve also seen this play out with angel investors who have become prominent solo venture capitalists like Olumide Soyombo of Voltron Capital — and globally, Elad Gil and Lachy Groom. Last year, rali_cap raised $2 million, money it has since deployed. “But we’re always open for exceptions,” said Simmons.
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 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. Another startup that is digitizing retail in Pakistan is Bazaar, which announced a $70 million raise earlier this year.
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
With a large population, Pakistan is geographically smaller, well-connected with fewer provinces, has lower regulatory barriers and doesn’t have strong incumbents,” Khurshid, who is originally from Pakistan, said via email. As the global venture capital market slows, is the US dodging the downturn?
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.
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.
The interview above is with social entrepreneur Roshaneh Zafar, founder and managing director of The Kashf Foundation , Pakistan's third largest microfinance institution, tells Global X why she had to unlearn what she learned about economics.
Grassroots Pakistan ● grassrootspakistan.ngo. Mission: To ensure corporations respect human rights in their global operations. 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.
Some examples of Seedstars’ portfolio companies include Pakistan e-commerce startup Dastgyr; Saudi Arabian cloud-based point-of-sale and restaurant management system Foodics; Indonesian workforce marketplace MyRobin; Latin American restaurant CRM OlaClick ; and Nigerian B2B marketplace Omnibiz.
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.
I know many nonprofits that work globally, either with affiliate offices or partners in different countries, sometimes with a time zone difference of 6-12 hours. ” I remember working with a cohort of grantees in Pakistan which is 12 hour time zone.
STV led the round, with Raed Ventures, Global Founders Capital, Upper90 and VentureSouq participating. In terms of the biggest markets for us, it’s Poland, Turkey, Saudi, UAE, Nigeria, after that is Egypt and Pakistan.” Angel investors Salman Butt of Salla and Wiktor Namysl of McKinsey Poland joined, as well.
This strategic partnership aims to foster entrepreneurship and strengthen economic cooperation in Pakistan. The announcement has been made during the Pakistan Investment Conference in Shanghai, part of Punjab Chief Minister Maryam Nawaz Sharif s historic visit to China from December 8 to 15.
The global management consulting industry is worth billions of dollars but to this day it’s been tough to disrupt with technology. so far from Fatima Gobi Ventures and angels including Gokul Rajaram (DoorDash board member), the former Global CFO of PepsiCo and two managing partners of large consulting firms.
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. Atlanta’s sundry startups join in global VC funding boom. And oh boy has Atlanta had a week.
Omer Alvie and Awab Alvi are associated with the Help-Pakistan.com web site which was launched as part of the ongoing relief effort for the October, 2005 massive earthquake in Pakistan. They've launched an online campaign to support free speech of Pakistani bloggers and internet free speech in general.
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.
Bfree , a Nigerian credit management fintech, has embarked on global expansion after raising $1.7 Bfree is now on a massive recruitment drive for the 16 new markets in which it is setting up operations, including Ghana, India, Uganda, Brazil, Colombia, Mexico, Russia, Poland, Pakistan and Indonesia.
Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” Talk to a lawyer about your global corporate structure and your fundraising plans to confirm. Sophie Alcorn. Contributor. Share on Twitter.
In terms of active operational markets, though, the fintech is present in six African markets — Ghana, Tanzania, Kenya, Uganda, Zambia, Ivory Coast and South Asian country Pakistan. So far, JUMO has served loans worth over $3.5 billion to more than 18 million customers across these markets, granting up to 120 million individual loans.
Sophie Alcorn Contributor Share on Twitter Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives. China is not exempt.
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?
Typical of many SaaS startups today, PixCap’s team of 15 members is located across the world — India, Pakistan, the U.K., It plans to spend the proceeds from its new round on global expansion, hiring for its engineering and marketing teams, product development and community building. France and Russia.
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.
Viber is quite global. Obviously, we index better in some countries (and worse in others), but it’s pretty much a global phenomenon. We recently announced partnerships with Axis in Indonesia and Mobilink in Pakistan. At the current growth rate, Windows Phone will become #3 at some point.
And importantly , this is the group that demonstrated their confidence and desire to really solve what is a global problem,” said the CEO. Brazil, Pakistan, and the Philippines. They bring strategic benefit to this company and awareness that is over and above the capital. ” More than 1.5
His roles involved representing Australia in international negotiations on global health and humanitarian affairs and as an advisor to the UN secretary general on global health and pandemic preparedness. . These countries seldom embark on intervention projects alone or solely with Zenysis. based VC firm 500 Startups. .
Her stories manifest the power of social media to bring about a new global consensus for action on poverty and health — one story, one conversation, one call to action at a time. But, Jacqueline and Acumen are beacons for more than just social enterprise. Her stories also reveal the importance of social media to development.
I did a post a few weeks ago on youth programs in TechSoup Global's new Local Impact Map and decided I hadn’t covered this resource nearly enough. demonstrates what nonprofits, NGOs, and libraries around the world are doing with their TechSoup Global software donations to further their missions. Our Local Impact Map.
Global Impact of InterConnection's Programs. During the past few years, InterConnection has also participated in supplying badly needed IT equipment to disaster stricken areas like Chile , Haiti and Pakistan , and Japan. The program was started in 1999 by Charles Brennick, who still runs the organization.
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. (Previously, crypto existed in a gray area where people could transact but companies and exchanges doing so attracted law enforcement attention.).
For those nonprofits working on political engagement issues/activism - When media bans were put in place at the end of Musharraf’s rule in Pakistan SMSall , or as its founder Umar Saif, says “Twitter for SMS,” or “Twitter for. established groups on SMSall in Pakistan. Today there are over 150,000. increase in a.
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. Meanwhile, layoffs are also occurring more widely. Among them, just three companies OpenAI, Anthropic, and Inflection AI raised $18 billion.
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.
The Elders is, "a group of eminent global leaders, convened by Nelson Mandela and Graça Machel to bring their experience and independent voices to the resolution of conflict and to innovative, cooperative efforts to address the great global challenges of our time." One of the projects he is involved with these days is The Elders.
SAP , a TechSoup Global donor partner and a leader in enterprise software applications partnered with the UNFPA to unveil two interactive population dashboards to mark the milestone. It took until year 1800 for global population to reach 1 billion. In my country of origin, Pakistan, half the population is under the age of 19.
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