Rising inflation, declining foreign reserves, energy shortages, political instability – These headlines make a grim reading for any investor. But in all the negativity that is engulfing Pakistan currently, there is one silver lining: Booming start-up ecosystem. Pakistan is, after all, one of the few untapped frontier markets.
Pakistan is at a unique crossroad. Being the fifth-largest population in the world, more than 60% of its population is under the age of 30 years. More than 50% of the population has access to broadband/3G/4G services and there are more than +190m cellular subscribers. The country has strong growth prospects, driven by the large, tech-savvy young population and a growing consumer middle class.
In 2021, Pakistani start-ups attracted $365 million in funding. During Q1’22, they have managed to attract +$170 million in funding – at a time when commodity pressures and regional conflicts across different regions led many to believe that a market correction is due, with many fearing drying of follow-on funding. With more funding rounds in the pipeline, we could very easily see the $365 million mark being exceeded by Q3’22.
Source: https://techshaw.com/pakistan-startup-funding-q1-2022/
Majority of Pakistani start-up fundraising is concentrated within B2B or B2C e-commerce, fintech, and logistics. This is a trend that can be observed in a lot of emerging markets as the ecosystem starts to grow. With increased digital adoption and a growing consumer class, these...
Read Full Story: https://profit.pakistantoday.com.pk/2022/05/01/the-start-up-culture-is-causing-pakistanis-wapistanis-to-dream/
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