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Fintech Adoption in Pakistan on the Rise with Record Levels of Funding Secured by Startups: Report

Pakistan has managed to attract a considerable amount of new capital to support its evolving Fintech sector and emerging startups. The significant increase in new funding actually began following the COVID-19 outbreak which led to many more consumers transacting online instead of visiting physical business locations.

Recently, Khadim Ali Shah Bukhari Securities Pvt.’s Fintech trading app KTrade and ex- Morgan Stanley asset manager Omair Ansari’s early wage access platform have managed to acquire $6.6 million in capital, which notably adds to the $19.3 million in funding for the nation’s high-potential startups during Q1 2021.

Of that amount, almost $15 million has been received from overseas investors, which channeled an all-time record $48 million into Pakistan‘s Fintech economy in 2020. This, according to a report from Bloomberg which referenced  a note from Invest2Innovate, an initiative launched to support early-stage firms. The considerable decrease in international…

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