Home Press Release Pakistani Startups Funding Cross $300 Billion in 2021 – Bloomberg

Pakistani Startups Funding Cross $300 Billion in 2021 – Bloomberg

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Pakistan has seen some of the greatest investments this year in the startup sector. According to a Bloomberg report, after two e-commerce startups raised fresh funds, the startup funding in Pakistan crossed $300 million in 2021.

In its Series A round, Pakistan’s largest online travel and ticketing platform Bookme raised $7.5 million in Series A round. Following closely behind, Bagallery – a beauty and fashion startup, raised $4.5 million in a similar round.

Read more: Bagallery Raises $4.5 Million, Becomes Biggest Female Co-founded Startup

Both the funding rounds were co-led by Zayn Capital, Lakson Venture Capital, and Hayaat Global. The flow of money in Pakistan has been record-breaking and the total money invested into Pakistani startups this year has been more than in the previous six years combined. Several global venture capital firms have invested in Pakistan which has resulted in a “funding frenzy” – as quoted by Bloomberg.

Read more: 3 Pakistani Startups Chosen Among 597 Applicants, Receive £668,000 Grant

Pakistan has rightfully adapted itself to a post-covid world. With online retail accounting for about 2% of gross domestic product – the e-commerce market is booming. Moreover, according to reports Pakistan is expected to double its retail volume every year over the next five years.

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