Pakistan

Pakistan’s Digital Ledger CreditBook Picks Up US$11m From Tiger Global and Others

Pakistan-based digital bookkeeping solution CreditBook has raised US$11 million in a pre-Series A round. The round was led by Tiger Global and Firstminute Capital, and marks the first investment in Pakistan for both firms. Participating investors included VentureSouq, Ratio Ventures

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Pakistan’s PostEx Closes US$8.6m Seed for Its Ecommerce Fintech Solution

Pakistan-based ecommerce fintech company PostEx has closed a US$8.6 million seed funding round, one of the largest early-stage funding deals to be seen in Pakistan. The Lahore-based startup raised the funding in multiple tranches, with the latest led by Global

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Jumo Secures US$120m to Scale Its BaaS Platform

South Africa-headquartered AI-based banking-as-a-service platform Jumo announced in a statement that it has raised US$120 million from new and existing backers. The round was led by Fidelity Management & Research Company, an investment advisory firm owned by the Johnson family,

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Pakistan’s Udhaar Book Secures US$6m for Digital Book-Keeping App

Pakistan-based MSME-focused cash flow management platform Udhaar Book has raised US$6 million in seed funding to digitise credit in retail shops in Pakistan. The funding was raised from Fatima Gobi Ventures, Muir Capital (by Plaid co-founder William Hockey and other

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Pakistan’s Nascent Fintech Ecosystem Gets a Boost

Despite a growing population and a large pool of unbanked, Pakistan has been a relatively slow-mover within the digital finance space, but new opportunities brought about the COVID-19 pandemic and government-led initiatives are expected to fuel growth. Out of a

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Pakistan Digital Banking Startup Secures Record Seed Round

Pakistani digital banking startup Tag has secured over US$12 million in the largest seed funding round to have taken place in South Asia. With the fundraise, Tag’s valuation now stands at US$100 million, TechCrunch reported, with the company closing the

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8 Pakistani Fintech Startups You Need to Know in 2021 and Beyond

Pakistani fintech startups are making their mark in what is a relatively small but growing startup ecosystem. In Q1 this year, Pakistani fintech startups fetched funding of US$19.3 million in what Bloomberg called a fintech “startup funding rush.” Of this,

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Thunes and Bank Alfalah Launch Cross-Border Payments in Pakistan

Singaporean fintech Thunes has announced a partnership with one of Pakistan’s largest banks, Bank Alfalah. The partnership will enable the global payments fintech to offer cross-border payments in Pakistan, a statement said. Both Abu Dhabi Group-owned Bank Alfalah’s clients and

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Pakistani Digital Bank UBL Partners Temenos for Its Digital Transformation

Pakistan’s digital bank UBL has signed an agreement with Temenos and National Data Consultant (NdcTech) to provide and implement a next-generation digital banking solution. Through this agreement, the bank has embarked on a digital transformation journey across all channels, products

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Western Union, Pakistan’s Faysal Bank Team up for Real-Time Account Payout Capability

Western Union, a provider of cross-border, cross-currency money movement and payments, is collaborating with Faysal Bank, one of Pakistan’s Islamic banks, to enhance its real-time bank account payout network in Pakistan. Receivers of international money transfers in Pakistan benefit from

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