One Pakistani startup raised disclosed funding in May
Note #052
Hello from Austin. I am writing this while here, but I will be back home when you read this.
I love Austin. It’s my 3rd visit here, and it’s an absolute vibe.
Finally, we have one disclosed equity funding round. It’s not much, just a mill, but it is something. It was raised by KalPay. I spoke to the founder, Shershah Hassan, on the 24th episode of the misaal podcast about a year ago.
The IT exports are on the UP and UP. I wonder if Umar Saif convinced banks to start reporting remittances as IT exports, as he suggests in this podcast. Just a reminder, Umar Saif was a caretaker IT minister for about half a year.
Other than that, there isn’t much to talk about.
Also, this might be my last newsletter curating the news and views. I will share more in next month’s newsletter.
💰 Funding (disclosed)
KalPay raised $1 million+ in funding from Orbit Startups, Super Capital VC, and Bansea.
📰 Learn
Pakistan records highest-ever monthly IT exports of $310m in April. Saudi tech company partners with ABHI, and Bookme enters Saudi Arabia. Farmdar partners with Bank Al Falah. This is what Pakistani startups are up to. How Pakistan's 4-month X ban is changing the internet. Fatima Gobi has fully deployed its $20 million fund. How Easypaisa forged its turnaround.
🧠 Think
Startups in Pakistan: all gloom and doom? Eight steps for better IT. Download to dollars. Are Pakistan’s ICT export numbers predicting exponential growth?
Until next month, ✌️