Just recently Pakistan witnessed the launch of its first-ever financial management startup, ‘Mahaana Wealth’. The launch came in after the financial management completed its required regulatory approvals from the Security Exchange Commission Pakistan (SECP). Soon after receiving regulatory approvals from SECP, Mahaana Wealth went on to raise its pre-seed investment of $2.1 million, which comes from both local and international investors.
Commenting on its investment raising round the startup said that “Mahaana Wealth has secured regulatory approvals from SECP to introduce technology-led investment management in Pakistan and recently closed its $2.1 million pre-seed round, which will contribute directly to meeting the regulatory capital requirements.”
With its large capital and ambitions, Mahaana Wealth pushed SECP towards bringing in new policy reforms while also introducing new license categories in the market, one of which is a digital asset management license and the other one is a digital investment advisers license.
Mahaana, by working with the government and releasing new policies, surely played an important role since these new policies and licenses will not only help them conduct business in a more streamlined manner but also eases up a lot of things for Pakistani nationals trying to invest their money.
These reforms directly remove roadblocks and will now make it easy for Pakistani people to open and manage retirement and saving accounts. “We are glad we were part...
Read Full Story: https://www.techjuice.pk/pakistans-first-wealth-management-company-raises-2-1-million-in-pre-seed-round/
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