In recent news, Pakistan’s financial platform, Abhi Pvt. has managed to raise funds equal to $40 million only four months since its inception. The platform helps employees gain access to their monthly income days before their actual payday.
The investment round was led by U.A.E.-based Global Ventures who invested in Pakistan for the first time. The investment round was also attended by U.S.-based Next Billion Ventures, VEF AB, Rally Cap Sarmayacar, VentureSouq, TPL e-Ventures, and i2i Ventures.
Pakistan has managed to receive more than $300 million this year which is more than the combined funding in the past 6 years!
“Pakistan has trailed in its adoption to the internet economy and startup formation,” Noor Sweid, general partner at Global Ventures stated, “The startup boom in Pakistan is attracting global attention.”
The Founder of Abhi, Omair Ansari said that his startup has seen “explosive growth” since its emergence. Moreover, the company plans its Series A round early next year. Ansari also added that the startup will begin operations in Bangladesh next year as well. Since there is no other platform in the region Abhi Pvt. has huge expansion opportunities.
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