KARACHI:
Pakistan is experiencing a silent revolution in the field of technology, as its tech-driven startups remain under the global investors’ radar and their exports continue to surge.
Pakistani startups raised over $375 million in financing from international investors in 2021 that “was twice the aggregate figure for the last six years,” revealed Alpha Beta Core (ABC) CEO Khurram Schehzad.
During the year, around 84% of the financing was received by the logistics, e-commerce and fintech startups.
Startups valuation grew to over $1.5 billion that was “five times higher” as compared to $300 million in 2020, he said. “Healthtech, edtech and fintech are likely to invite global investors’ attention in Pakistan during 2022.”
Elaborating, he pointed out that the country had so far little access and lack of quality healthcare services.
Moreover, such investments would help provide quality education at all levels through smart channels to 50 million children, bring cash and 75% of unbanked population to the banking system and document the informal economy, he added.
“The increasing global investors’ appetite suggests Pakistani startups are poised to attract … $1 billion in 2022,” Schehzad told The Express Tribune recently.
The investment momentum will continue because some of the biggest global venture capitalists (VCs) are now eyeing Pakistan.
The silver lining comes as global investors have massive liquidity in hand for investing in lucrative markets, while interest rates...
Read Full Story: https://tribune.com.pk/story/2336993/tech-startups-on-global-investors-radar
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
