Mahaana Wealth raises $2.1mn funding
KARACHI: Mahaana Wealth has secured regulatory approvals from the Securities and Exchange Commission of Pakistan (SECP) to introduce technology-led investment management in Pakistan and closed its $2.1 million pre-seed round, which would contribute to meet the regulatory capital requirements, a statement said on Tuesday.
The round was led by Vostok Emerging Finance (Sweden), SparkLabs Group (Korea & Hong Kong), and local strategic partner IGI Holdings (JV Partner of Nestle in Pakistan).
Mahaana received its initial investment from Mattias Martinsson (Founder of Tundra Fonder) and was a graduate of Y Combinator’s W22 batch. Speaking on the development, Muhammad Shamoon Tariq, founder of Mahaana and ex-partner of Tundra Fonder (Sweden), said the company saw opportunities for every person in Pakistan to create a financial security net in the form of building their savings and retirement funds.
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