Technology – Page 137 – Pakistan Tech News

Pakistan’s DigiKhata launch an online store and grows $2 million seed to encourage small enterprises digitize bookkeeping

Karachi head office Business to Business ecommerce trade Dastgyr has increased three-point five million in a seed round give raise to SOSV, it declared today. The round that uses its total increase to date to four million dollars also contained the commitment of Asian Development Seedstars, Bahrain’s Zayani Venture Capital, Dubai’s Tricap properties, Edgebrook Partners and some angels containing Twiga Foods’ founder Grant Brook. It is the first Pakistani finance for most of these capitalists.

Established in 2020 by a team of former Careem and Airlift employees, Dastgyr grants mom-and-pop distributors, domestically known as kiryanas, to obtain directories for their stores – ranging from fast-moving users products to mobile accessories and envelopes, utilizing its mobile application. It presently reviews over two thousand SKUs on its trade center from different distributors, giving next-day transportation in Karachi and Lahore, the two cities where it works. The startup affirms to have provided thirty thousand wholesalers since its ritualistic introduction in September 2020.

It is working in a space that has made highly contentious in the previous two years. There are at least Ten Pakistani Corporations that are endeavoring to resolve the inefficacious in the delivery chain of grocery deals and with Dastgyr, five of them have uplifted three million dollars or more this year alone. What assembles it various from some of the other participants, though, is its asset-light commence. Dastgyr does not possess or keep any inventory. Its distributors ship the products to its arranging centers after getting the orders from consumers where they are rectified and then sent to distributors.

Muhammad Owais Qureshi and Zohaib Ali Dastgyr’s co-founders had already operated all together at Airlift. In a declaration, Owais, elaborated, “Zohaib [my co-founder] and I have already performed broad execute in operating people. We have considered and even rectified many of the issues in transport logistics but the movement of products is a far larger issue for the economy as a whole. Once the widespread immersed, this problem was increased and no one was hit harder than small enterprises. We introduced Dastgyr to sustain those small business people such as Abdul and Saeed who belong to Lahore and Karachi and two of our very first users.

The ecommerce startup is also equipping to initiate different types of digital granting solutions for wholesalers. It has been investigating with a get now reimburse later option for distributors, empowering them to remit the remittance for acquired inventory, “Our pilot for the BNPL detail has been advancing for some time with our most reliable user cohort . Moreover, we have observed excellent traction. Users who have obtained a BNPL facility have since raised their usual basket size, verifying our speculation and directing the path to ascend the experiment, Founding Member and Head of Product at Dastgyr Haseeb Siddiqui.

In inclusion to BNPL, Dastgyr also designs to initiate microloans that will support the wholesalers enlarge their business by adjoining more categories, developing store capacity, or buying appliances such as refrigerators and shelves. Dastgyr would not finance any of the credits from its books. It will rather execute with different participants for all the loan solutions, elaborated the startup, without revealing further information.

In addition to introducing its fintech offerings, Dastgyr organizes to avail the finance to increase its technology and scale operations.

General Manager at SOSV, in a statement William Bao Bean told that Pakistan is realizing the same designs as India 5 years ago and China 10 years ago: with 75% of the population keeping a smartphone, the motivator in mobile-first services will be the winners. We are specifically inspired by Dastgyr’s culture of growth: the company’s fintech providing is absolutely a game-changer for the unbanked and unsubsidized while securing the success of their businesses. We are significantly inspired by the company’s culture of growth and are proud to have the organization as part of our profile.

Pakistani startups collected $120 million In the first half of 2021

The resent flurry of overseas shareholders has supported enhance round sizes outstandingly as 20 of the 35 agreements were worth more than $1 million. The first half of 2021 has manifested to be stellar for the Pakistani constitution. According to data assembled by Data Darbaar, total finance into the country’s ecosystem negotiated $120 million across 35 unique agreements. This figure is likely twice as much as the $66 million enrolled during the whole of 2020 when forty-eight deals were submitted.

The activity was primarily taken by the e-commerce industry which cumulatively captured more than $42 million dollars across 11 deals in the first 6 months of the present year, exceeding achieved during all of 2020.

This points to a shift from the dominance of transportation and administrations which had guided the finance value in each of the previous two years.

Separately from the Series B of Jabberwock Vulteers — the group of Cheetay and Swyft which was never properly revealed but is recorded to be around twenty million dollars, Tajir registered the biggest deal value around seventeen million dollars at Series A.

The e-commerce industry rise to the financing leaderboard from the second position appeared to be the back of a problem of business to business associations doing towards computing the market supply chain, or what the i2i perceptions known as DukanTech.

It was these participants that collected in the mind-blowing number of the money at $37 million, making up 90% of the sector’s total.

All five of them Bazaar, Tajir, Salesflo, Retailo and Dastgyr had increased a collaborated almost $6 million in 2020, thus denoting a flow of almost six times in less than a year.

Grocerapp, which executes in the direct to customer segment, also fixed almost $5 million ultimately in June.

Fintech too ultimately stayed up to the murmur that encloses it, at least as far as fundraising is associated, as it collected in close to $32 million in the period under review.

The major operators here were Sadapay’s almost seven million and TAG’s approximately $6 million among electronic money organizations while financing platforms Seedlabs and KTrade bagged almost seven million dollars and $5 million respectively.

In collation, the whole of 2020 had determined probably ten million dollars poured into the industry nearly single-handedly provided by Finja’s nine million dollars which computed another more than one million dollars from Habib Bank Ltd in 2021 to eventually close its Series A round.

More than half of the deals happened at the seed series while six were Series A. Which observed ten Pre-Series A, only one such round has been registered so far unlike 2020.

City-wise, Karachi extended to top the charts with twenty-one deals under its belt value at approximately fifty million dollars. On the other hand, Lahore took in terms of worth although Jabberwock’s finance is involved.

As far as founder enumeration are associated, there was rarely any observable change since around 97pc of the total investment moved to male-founded initiations across twenty-seven deals.

Only two were completely showed by women while six had women as co-initiators. Uniformly, 86pc of the funding moved towards originators that had at least one oversea-educated initiator.

On the grant side of money, the first half of 2021 observed the association of 88 unique institutional capitalists of which 65 were overseas.

Venture capital determines clearly intimidated the overall score at 56 while the number of incorporate was 10. The keeping were either formal or blockchain-targeted investment firms, private integrity or mafia.

The period also observed the entry of some huge global entities into the Pakistani ecosystem, most primarily Kleiner Perkins which has funded more than twelve hundred startups to date and uplifts at least seventeen unicorns, containing Instacart.

The recent eruption of oversea capitalists has supported an increase in the round sizes crucially, which can be determined from the fact that twenty of the thirty-five deals were assets more than one million dollars.

At least 15 of these had one or more overseas guide investors. Although, as far as the deal count is fixed, Fatima Gobi Ventures was the most prominent with four ventures.

Sarmayacar, Global Founders Capital and i2i investments intently perused with three deals each.

The growing tech ecosystem of Pakistan is boosting

Pakistan the world’s fifth-most crowded state has been easy to improve to the internet thrift. Unlike other appearing economies like China, India and Indonesia which have accepted digitization and technology. Pakistan has tracked the region in the assumption of technology and startup development.

For all capitalists have planned for years of the massive changes in opening Pakistan’s power as a digital economy. As a country of two hundred and twenty million people, almost two-thirds of whom are under the age of thirty, Pakistan extracts natural correspondence to Indonesia — which has swiftly appeared as one of the most vigorous technology ecosystems outdoor in the United States and China.

Pakistani startups are on their way to growing more money than the last five years collaborated in 2021. Pakistan’s technology ecosystem has emerged to life in unmatched fashion after years of lagging behind, over the past eighteen months. Pakistani startups are on their way to growing more money than the last five years collaborated in 2021. Even more passionately, a huge part of this capital is getting from multinational capitalists from over Asia, the Middle East and even distinguished capitalists from Silicon Valley.

The quick disclosure of Pakistan’s technology ecosystem on the worldwide stage has been no misfortune. It is the consequence of a convergence of alternating facts on the ground and adapting streams in the startup and financing world as a result of the epidemic.

Unlocking Pakistan’s potential

The sudden publication of Pakistan’s technology ecosystem on the global stage has been operated by three major parts: a developing security situation, rapidly improving mobile comparability, and great legal commutes and isolationism.

As a frontline state and alliance partner in the United States’ attacking Afghanistan, Pakistan perceived casualty from terrorist brutality soar from two hundred and ninety-five in 2001 to a peak of over eleven thousand in 2009. This climate of uncertainty and wildness terrified worldwide businesses and capitalists from Pakistan for much of the first two decades of the 21st century.

PITB and JS Bank to Provide Smooth Payment Mechanism to Freelance Community

Punjab Information Technology Board (PITB) has signed an MoU with JS Bank to provide a secure and smooth payment mechanism to the freelance community

The MoU was signed by PITB DG e-Governance Sajid Latif and Najeeb Ahmad, Head of Special Asset Management at JS Bank on behalf of their respective organizations in a ceremony held at Arfa Software Technology Park (ASTP).

PITB Head of Freelancing Wing Chaudhry Ahmad Islam, JS Bank Product Manager-Digital Financial Services Khushnuma Jamal and focal person Mahnoor Ikram along with officials from State Bank of Pakistan were present at the event.

Speaking on the occasion, PITB DG eGov Sajid Latif stated, ‘PITB has successfully trained over 30,000 freelancers across Pakistan so far. We plan to train a minimum of 100,000 freelancers by the end of this year,” he added.

Najeeb Ahmad, Head of Special Asset Management – JS Bank stated, “Our partnership with PITB is another step in our efforts to drive entrepreneurship amongst the youth of Pakistan.This specially designed solution offers registered freelancers complete fee waiver on ATM withdrawals, specified international e-commerce payments Inter Bank Fund Transfer (IBFT) and account maintenance fee. In addition, as a special incentive Master Card Gold Debit card will be given at zero cost.”

The collaboration between the two will be an avenue to support freelancers through the provision of Freelancer Current Account/Home Remittance Current Account.

After Amazon Facebook Marketplace is in Pakistan: Razak Dawood stated

Probably a month after declaring that the e-commerce jumbo Amazon has joined Pakistan to its authorized sellers’ list, Abdul Razak Dawood Advisor to Prime Minister Khan on Commerce has appreciated another revolutionary announcement for the country’s building up a connection with the international market.

I am pleased to understand that after Amazon, Facebook has newly started a marketplace for Pakistan, it will prompt small business people to exchange online. Such changes during COVID-19 could be a lifeline for small enterprises, stated Dawood in a tweet.

He further appreciated the influence of Facebook affiliating its business recommending with Pakistan’s developing traffic and especially elaborated the important role that it could perform for “women entrepreneurs who need to attract in the market by purchasing and selling in the community of family, friends and networks. The first step towards eCommerce.

With the highlighted introduction of Pakistan on Facebook’s newest online deal giving, domestic craftsmen and retailers will be shown to international-level potential for trading and clearly purchasing their items in exchange for profits.

Sale of animals worth Rs. 55 Million reported through Bakar Mandi Online app

Sacrificial animals worth PKR 55 million have been sold for Eid-ul-Adha since July last year through Bakar Mandi Online app developed by the Punjab Information Technology Board in collaboration with Punjab Cattle Market Management and Development Company.

With the raging pandemic demanding social distancing especially in crowded cattle markets during the Eid, online sale of sacrificial animals really gained momentum across the province. Camels, goats, cows and other animals were successfully bought and sold through this digital platform.

More than 14,000 people were registered on the mobile app including 13,000 buyers and 1,000 cattle owners. Citizens were also able to browse details about animals such as the breed, weight etc through pictorial information.

It was informed in the progress review meeting that citizens from across Punjab can purchase sacrificial animals through this app whereas avoiding all kinds of health hazards amid the forth wave of Covid-19.

Govt initiates IBCC e-portal for issuance of equivalence certificates

Shafqat Mahmood Federal Minister of Education for on Tuesday declared that the education ministry, in deliberation with a domestic and worldwide partner, has emerged an e-portal for the Inter Board Committee of Chairmen that will allow students to accept equality certificates at their stair after concluding simple amenities.

The Inter Board Committee of Chairmen declares equivalence certificates for A and O levels, International Baccalaureate Programs, devout degrees and other requirements.

Talking formalities in Islamabad, the minister told everything from the suggestion of bank challan to documents that had now been digitalized and students would be capable to follow their application status.

Students already utilized to resist extreme trouble, taking their authentic certificates to the Inter Board Committee of Chairmen office, then waiting for hours for their revolve before availing it to banks to submit challans, Shafqat Mahmood Federal Minister of Education elaborated.

He further said that students would endure issues because most of them were unknown with the banking process.

Shafqat Mahmood Federal Minister of Education mentioned the entire process was an oppressive one and there were terrors of deprivation of original documents confirmed by the students.

He told the new system was conceived after sessions with all partners involving the thirty boards in Pakistan and global education boards like Cambridge.

Shafqat Mahmood Federal Minister of Education described students meeting problems requiring the online facility could still use the manual process that was in place already.

He elaborated once the online application had been done, students would accept documentation at their address and he further said that in future these certifications will also be provided to students in PDF format.

He described this up-gradation as an innovative change, which purposes to design relief for students. He further said that several other measures would be helped in the future to enable students.

Pakistan Post Establishes Amazon facilitation center

As Amazon has extended its platforms for Pakistani sellers, this will support to promote businesses and online clients will obtain reach to Pakistani outlets as they will be capable to approach all major markets through Amazon, Khawaja Imran Raza Pakistan Post Postmaster General Punjab told.

During a session with the representatives of Pakistan Ready made Garments Manufacturers and Exporters Association, Raza guided about the initiation of Amazon Facilitation Center by Pakistan Post to enable garments manufacturers and exporters in the name of the government to trade different products such as garments products etc globally.

He further said that Pakistan Post is completely equipped to obtain the advantage of the opportunity given by Amazon and the department is all regulate to transport sellers’ delivery from their doorstep to different Amazon warehouses in the world.

Raza also elaborated that e-commerce is the best chance exceptionally after the Covid-19 pandemic as online purchasing and selling is growing rapidly.

Pakistan Post office has been properly approved as the delivery partner of global e-commerce giant,” PRGMEA North Zone Chairman Adeeb Iqbal Sheikh briefed. This is being. This is being observed as a massive accomplishment for Pakistan’s e-commerce industry as Pakistani products will now be present to millions of users worldwide, he described.

The office-bearer stated that this action will guide to appreciative results for the youth as well as small and medium enterprises to trade on the Amazon platform. He further elaborated that this will add Pakistan sellers into the international market.

Mobile number to be utilized as account number

The State Bank of Pakistan is established to clarify banking by permitting users to revolve their mobile phone numbers into bank account numbers to enlarge banking services to the unbanked and monetary precluded people living in remote and rural areas.

A user can connect his/her mobile phone number or any other recognition number with their bank account number under Raast said Syed Sohail Javaad State Bank of Pakistan Payment System Department Director on Tuesday. This attribute will be upraised in October 2021.

Saying at the UBL Digital Mobile Commerce 2021 on Tuesday, he elaborated that soon, people could provide their mobile numbers to attain instant remittance.

According to him, remembering a long IBAN or bank account number is one of the toughest things in the banking ecosystem. He told that this was in our mind when we initiated scheming Raast in 2017.

“Next year, we are focusing to launch exciting pull remittance service under which a retailer of goods can appeal banks to finance for the merchandise from purchaser account with his authorization,” he described.

Read More about Raast App

The central bank in cooperation with the Pakistan Telecommunication Authority has enabled cybersecurity of digital banking in the country. He mentioned, we stand 99.9% safe from the world’s security warnings and strikes. We have obtained warnings and successfully controlled them to prevent them on time.

He further described that the State Bank of Pakistan kept occasional sessions with banks’ chief information security officers.

When a cyber-threat happens to the knowledge of the central bank, we cooperate with Pakistan Telecommunication Authority and call banks to brief them about the warning and recommend actions for them to keep secure, he told.