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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 Citing industry figures, Shaikh said about 53 million people in Pakistan are currently underbanked. Over time, the startup plans to go beyond Pakistan and support underbanked communities in other developing markets. Pakistan’s Neem raises $2.5M
has joined the ranks of tech companies in Africa that are pruning their workforce. 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. Kuda, the African challenger bank, raises $55M at a $500M valuation.
Since its founding in 2013, NS1 has raised more than $100 million to build an engineering team and robust product portfolio that’s expanded to include DDI, which helps companies manage internal networks. Pakistan’s growing tech ecosystem is finally taking off. Pakistan’s growing tech ecosystem is finally taking off.
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. It has raised $8.6
The startup announced today it has raised $2.2 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. million in 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. Between a rock and a farm raise. Kamereo gets $4.6M
The company has now raised more than $80 million, and while it is not disclosing its valuation, PitchBook data notes that it is $715 million as of this round (which appears to have closed earlier in the year). “Remittances are a deceptively simple product on the surface, with an exceedingly complicated execution under the hood.
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. It is also coming a year after raising $55 million in a similar unnamed financing round.
That subsequently led to 4x monthly volume growth, and it is expected the company’s expansion into Pakistan will yield even better results. However, not all is bad in the world of stock performance, and Alex and Ron took a look at four tech companies that actually did OK last week, despite the choppy markets. Big Tech Inc.
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.
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. See you tomorrow! The TechCrunch Top 3. Startups and VC.
Instacart looks to make its equity more competitive : There’s nuance to the mechanics at play, but after raising at an equity valuation of nearly $40 billion last year, Instacart has repriced the value of its equity for purposes of employee compensation. Big Tech Inc. To a much lower price. You can sign up here.).
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
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.
He wrote about how Synthesis AI raised $17 million to create synthetic data to improve computer vision and how payroll provider Symmetrical.ai raised $18.5 CommandBar landed $19 million to continue creating a search-and-browse plugin for web apps, and Deepset raised $14 million to help companies build natural-language processing apps.
For many tech workers, this is the first time they’ve experienced real uncertainty. “Priority tasks should consist of setting up a growth tech stack, creating a testing roadmap to find the most efficient growth levers, and robust creative and copy testing in the first 90 days.” Purposeful in Pakistan.
NFTs have been sold to raise money for the Ukrainian people and military. 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 Stand with the people of Ukraine.
In 2017, Cars45 raised $5 million from Frontier Car Group (FCG) , the Berlin-based company that builds used-car marketplaces focusing on emerging markets. Two years later, FCG received $400 million from OLX Group (a division of Prosus, the Netherlands-based separate tech holdings of South African tech giant Naspers).
Dear Sophie: How do tech layoffs impact PERM and the green card process? Colombia and more than 75 countries, including Pakistan and Taiwan, are on the list, but other countries such as China and India do not currently have the requisite treaties in place. More posts by this contributor. that might not be a big deal for you.
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.
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. London’s climate technology companies raised a total of $3.5
. “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.
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.
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.
The consumer fintech company is focused on helping people build credit and raised $30 million in June 2021. In June of 2021, the company raised $150 million at a $2.17 In June of 2021, the company raised $150 million at a $2.17 The B2B payments company raised $200 million at a unicorn valuation in 2021. billion valuation.
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.
Credable , an upstart in this category that provides its clients with the technology stack, scoring capabilities, and banking partners, has raised a $2.5 They allow businesses such as mobile operators, e-commerce platforms, and logistics companies to embed and enable banking products for their customers. million seed round.
Companies are raising less money at lower valuations than in 2021, which reflects the market sentiment.”. China’s billionaire tech boss Jack Ma plans to cede control of Ant Group, the fintech powerhouse closely affiliated with Alibaba, the e-commerce giant he founded, the Wall Street Journal reported on July 28. Funding and M&A.
This charity also has offices in India , Nepal , and Tanzania operates its own projects and supports partners in Tanzania, India, and Nepal and works on behalf of children in places like the Occupied Palestinian Territories, Pakistan, Peru, Cambodia, China, and Bangladesh. It has just 20 UK-based staff. Send it to community@techsoup.org.
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. greener?
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. Airlift website.
The company has raised over $86 million over its lifetime and counts NewView Capital and SoftBank’s SB Opportunity Fund among its backers. Meanwhile, Yaydoo has raised over $20 million from investors such as Base10 Partners, monashees, SB Opportunity Fund and Leap Global Partners. Klarna recently raised $800 million at a $6.7
Other hard-hit countries will include Nigeria, Indonesia, the Philippines, Pakistan, Sudan, and Niger. Food shortages Flooding, heat stress, and changing weather patterns will make it harder to grow crops and raise livestock. The Arctic is predicted to be practically ice-free during summertime. degrees Fahrenheit.
Wild West’ of climate tech : Mike has a story about Ceezer closing on €4.2 DAO makes us proud : Gaming guild Metaverse Magna is now valued at $30 million after raising $3.2 ARR : Userpilot, a product-led growth platform for SaaS companies , raises $4.6 Lawn and order : Dominic-Madori reports that JusticeText raises $2.2
For the unacquainted, Ramp is a spend management startup that last August raised $300 million at a $3.9 Other prominent players in the space include Brex, which last month announced a $300 million raise at a $12.3 billion valuation. Launching soon – a weekly fintech focused newsletter in your inbox. Sign up here !
Still, an Amnesty International statement raised concerns that the company is providing spyware to oppressive governments, where government agencies can’t be trusted to do right by their citizens. Microsoft, Google, Cisco, and other tech companies signaled support for WhatsApp’s suit. (As
Also, whether you love or loathe Amazon, you’ve got to give ‘em cred for having their supply chain tech sewn up tight. Let’s do a proverbial cannonball into the startup pond: Software eats food distribution : Cerve raised $2 million for a wholesaler platform as post-COVID food distribution digitizes. Big Tech Inc.
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.
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?
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.
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