2021 has been the year for startups – they have reined in record capital from investors and expanded their businesses. While this has been true from the Indian perspective (as you no doubt know, if you have been following us), other countries have earned a slice of the pie as well.
Pakistan and India are cut from the same geographic and ethnic cloth, and yet, there are several differences between the two countries. However, when it comes to their startup sectors, both have fared well this year. While India has produced a record number of unicorns this year, startups in Pakistan have raised over $300 million this year alone, which is more than the previous six years combined. Pakistani digital platform CreditBook has taken advantage of the capital guzzling startup ecosystem to gobble up $11 million in its pre-Series A funding round.
The round included participation from Tiger Global, which has invested in nearly 28 startups such as CRED, Vedantu, PharmEasy, BharatPe, Gupshup, ShareChat, and others, and invested nearly $677 million in Indian companies last year. It also included the participation of investors such as Better Tomorrow Ventures, Firstminute Capital, Banana Capital, VentureSouq, Ratio Ventures, and i2i Ventures, as well as angel investors Sriram Krishnan and Julian Shapiro.
The investment in CreditBook marked the first investment by Tiger Global and Firstminute Capital in the Pakistan startup space. They join global investors such as Kleiner Perkins, Addition,...
Read Full Story: https://thetechportal.com/2021/12/17/pakistan-digital-services-msme-creditbook-startup-tiger-global-funding/
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