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Sequoia backs fintech Dbank in maiden Pakistan investment

 2 years ago
source link: https://fintechranking.com/2022/07/28/sequoia-backs-fintech-dbank-in-maiden-pakistan-investment/
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Sequoia backs fintech Dbank in maiden Pakistan investment

Islamabad-headquartered startup Dbank said on Thursday it has raised $17.6 million in a seed round, the largest in Pakistan, co-led by Sequoia Capital Southeast Asia, the recently unveiled $1 billion fund, and Kleiner Perkins. Brazil’s neobank Nubank, Askari Bank, Rayn also participated in the round, the Pakistani startup said.

Dbank is a fintech startup that will attempt to expand the reach of financial services in a “transparent and friendly” manner in Pakistan, taking on the informal credit system that tends to exploit those in need with exorbitant and unpredictable interest rates.

Read more: TechCrunch


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