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Thursday, December 26, 2024

Home Business Pakistan’s fintech startup TAG raises $12 million in seed round; valued at $100 million

Pakistan’s fintech startup TAG raises $12 million in seed round; valued at $100 million

by Our Correspondent
September 22, 2021
in Business

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Pakistan-based fintech startup TAG Innovation Pvt. raised $12 million from international investors including New-York based Liberty City Ventures and Canaan Partners, reported international media on Wednesday.

The startup, which headquartered in Rawalpindi, has raised funds to expand its digital payments system in Pakistan.

The fund-raising was led by Liberty City and also included Addition LP, Mantis Venture Capital and Banana Capital LP.

Previous investors in the pre-seed round were Quiet Capital, Fatima Gobi Ventures. Polymath Digital doubled down in this round while Khwarizmi Ventures and the co-founder of Plaid William Hockey also participated, Bloomberged reported.

The firm has been valued at $100 million.

Pakistan’s is witnessing record money flow in its startups with many venture capitalists investing for the first time.

Pakistani firms have managed to raise more than $250 million in the ongoing year.