Venture Capital companies in Pakistan during the current quarter so far has attracted an amount of USD109 million in seed money. Average ticker size recorded at USD5.2 million so far during 2Q 2021, which is more than double as compared to first quarter average ticker of USD2 million.
This happens at a time when Foreign Direct Investment (FDI) posted decline of more than 30 percent during the period from Jul to Apr 2021 when compared to the corresponding period last year and falls to the level of USD1.5 billion, as per SBP data.
Top three are Lahore based Venture Capitals, Jabberwock venutures (USD20 million),Tajir (USD17 million) and Educative (USD12 million). Remaining USD50 million is raised by Finja (USD10.1 million), Sadapay (USD7.2 million), Retailo (USD6.7 million), Bazaar (USD6.5 million), Seed Labs (USD6.4 million), TAG Financial Technologies (USD5.5 million), Makaan (USD5 million), Planet N Group (USD3.2 million), Rinstra (USD2 million), Truck in it (USD1.5 million), Credit Book (USD1.5 million), remoteBook. (USD1.4 million), Safepay (USD1.3 million), Sahet Kahani (USD1.0 million), Chkar (USD0.3 million), Dastgyr (USD0.2 million), 24seven.pk (USD0.2 million) and INNOCORP (USD0.1 million).
# 1: Jabberwock Ventures (USD20 million)
Jabberwock Ventures, a Lahore Based company, the parent company of online food delivery platform Cheetay Logistics and Swyft Delivery Solutions, has reportedly raised close to USD20 million in Series-B round.
Jabberwock, established by Majid Khan and Ahmed Khan, solve real world problems effectively. Jabberwork Ventures do this by building and backing high end solutions and businesses encapsulating them inside technology to make them standardized and scalable.
# 2: Tajir (USD17 million)
Tajir has raised USD17 million in a Series A round led by Kleiner Perkins. It is the first investment by the American VC in a Pakistani startup.
Tajir offers a one-stop shop for buying inventory. Through Tajir, stores can order whenever they want, receive on-demand delivery, enjoy transparent, competitive prices, and choose from the largest selection of products available. Tajir takes a process that took a dozen hours every week and reduces it to a few minutes.
Suppliers can sell to stores directly through Tajir, enjoying greater sales at higher margins with zero additional investment. Since Tajir launch, it became the first Pakistan-focused company funded by Y Combinator, raised our seed round, and — most importantly — now serve over 15,000 happy stores.
# 3: Educative (USD12 million)
Educative has raised USD12 million in a Series A round a Matrix Partner company.
# 4: Finja (USD10.2 million)
Finja has closed USD10.2 million in a Series A financing round. The investment came from ICU Ventures and the existing investors BeeNext, Vostok Emerging Finance, Quona Capital, and Gray MacKenzie Engineering Services (a Descon company).
Finja is a new age financial services platform for professionals, merchants (Karyana shops) and SME businesses addressing their payments, collections and credit needs. Being friend of banks, Fls and merchants, we hold a unique position in the value chain enabling all actors in the eco-system to interact digitally.
# 5: Sadapay (USD7.2 million)
SadaPay has raised USD7.2 million in a seed round led by New York-based Recharge Capital. It includes participation of returning investor Kingsway Capital, Raptor Group, and notable fintech angels, including Ualá’s founder Pierpaolo Barbieri, Ribbit Capital’s Brian McGrath, former General Catalyst partner Ilan Stern, and Valon Technologies’ founder Andrew Wang.
SadaPay is bringing modern financial services to Pakistan, where 82 percent of over 222 million people are formally unbanked.
# 6: Retailo (USD6.7 million)
B2B headqyarterd in Riyadh ecommerce marketplace Retailo has raised USD6.7 million in the largest seed-round-ever for a Saudi startup
Retailo is an online marketplace for SME retailers in the MENAP region. We are digitizing and supercharging the retail sector to make it beautifully uncomplicated.
# 7: Bazaar (USD6.5 million)
Bazaar has raised USD6.5 million in one of the region’s largest seed rounds co-led by Berlin-based Global Founders Capital and Pakistan-focused VC Indus Valley Capital that had also led company’s pre-seed round in June last year. To note, this is the first investment of Founder Capital in Pakistan.
Bazaar is an online marketplace that connects retailers directly with wholesalers and manufacturers.
# 8: Seed Labs (USD6.4 million)
Seed Labs, trading app (called dTrade), has secured USD6.4 million in capital through a seed funding round at a USD50 million valuation.
Seed Labs is a software company focused on developing its own products. Seed Labs's first product is commissioned for decentralized trading of commodities, stocks and digital assets.
# 9: TAG Financial Technologies (USD6.4 million)
TAG has secured USD6.4 million in a Pre-Seed financing.
TAG is a financial technology company. It is pioneering a digital experience that combines everyday banking services, instant P2P and online payments mechanism — all within an easy-to-access mobile app. TAG has achieved Principal Approval of Electronic Money Institute (EMI) license by the State Bank of Pakistan (SBP). Currently TAG is running its services in Pilot mode before launching to public. We are launching our limited beta in Q3 of 2021 under the supervision of SBP.
# 10: Makaanshop.com (USD5.0 million)
Makaanshop raised USD5.0 million a Series A financing round.
Makaanshop bring the Pakistan's largest and most engaged property audience and the largest inventory of properties together in one place. They provide premium sevices to customers that are purely based on their core values that make us prominent in real estate industry.