New details emerge about defunct startup Airlift’s downfall
LAHORE: New insights regarding the now defunct Airlift have come to the fore, shedding light on the happenings that led to its...
With $2.5m in seed funding, Neem sets sights on scaling banking as a service
LAHORE: Pakistan’s embedded financial services platform Neem Exponential has raised $2.5 million in seed funding to build and scale financial wellness focused...
Pakistan’s SnappRetail raises $2.5m to digitise retailers, as it plans countrywide expansion
Retail digitiser SnappRetail has raised $2.5 million in pre-seed funding for its microenterprise system for retailers to help them compete with modern...
PostEx acquires Call Courier to expand its logistics network, awaits NBFC license
Pakistan’s logistics and fintech company, PostEx, has announced the acquisition of Call Courier, a competing eCommerce logistics solution provider, for an undisclosed...
PayPal founder Peter Thiel backs Pakistan’s eCommerce marketplace PriceOye in $7.9mn seed round
Pakistan’s electronics-focused eCommerce platform PriceOye.pk has announced completing a seed raise of $7.9 million as it focuses to become a nationwide specialised...
YCombinator-backed Mahaana Wealth announces $2.1mn pre-seed raise to digitise wealth management in Pakistan
Pakistan’s digital wealth management startup Mahaana Wealth announced today that it has secured regulatory approvals from the Securities and Exchange Commission of...
SBP orders TAG to make full refunds to depositors. What does this mean for the troubled fintech startup?
The State Bank of Pakistan (SBP) has ordered Pakistan’s fintech TAG Innovation to initiate refunds to customers. Despite that it may seem...
Fintech company OneLoad announces $11m raise from Bill & Melinda Gates Foundation, others
LAHORE: Pakistan’s fintech company OneLoad has announced raising $11 million in new funds as it focuses on the next phase of growth.
OneLoad’s...
Logistics company Trax lays off employees as costs rise, volumes dip
Logistics startup Trax laid off about 50 employees on Friday, with more layoffs on the cards as the logistics company rationalises its...
Pakistan’s Dbank secures backing of Sequioa in $17.6m seed round
LAHORE: Pakistan’s fintech company Dbank, which aspires to become a digital bank, has secured the backing of Sequoia Capital, one of the...
In its ambition to buy a bank, has Pakistan’s fintech poster-child killed itself?
In trying to make TAG the only fintech company with a full banking licence, Talal Ahmad Gondal may have made the worst mistake of his life. Profit looks at the entire TAG saga.
YAP Pakistan gears up for its pilot phase after securing IPA for an EMI license: Partners up with Faysal Bank for innovative banking solutions
Lahore – 18th July, 2022: After successfully obtaining the In-Principle Approval from the State Bank of Pakistan for an Electronic Money Institution...
Pakistan’s eCommerce startup Dukan.pk lays off 25pc workforce as it focuses on profitability
Dukan.pk, an e-commerce startup that lets anyone with a smartphone build a web store, has laid off about 25 per cent of...
Airlift announces complete shutdown. Profit explains why
That’s all folks. After three years of operating in Pakistan, Airlift Technologies has announced a complete shutdown of its operations from tomorrow...
Pakistani startups have raised $284mn in first half of 2022, but are expected to close the year at less than 2021
Startups in Pakistan have raked in a total of $284.89 million in disclosed funding across 45 deals in the first six months...