PATHAO RAISES $12 M TO ACCELERATE FINTECH TRANSFORMATION

PATHAO RAISES $12 M TO ACCELERATE FINTECH TRANSFORMATION

Pathao has raised $12 million in a pre-series B funding round as part of Bangladesh largest consumer technology provider strategic shift towards fintech.
This investment takes Pathao total capital raised to upwards of $50 million -- the largest by a pre-series B start-up in Bangladesh.
The round was led by the MENA-based VentureSouq, which has made “platform bets” across the Middle East, Africa & South Asia. Additional investment came from Anchorless Bangladesh, Osiris Group, South Asia Tech, Openspace Ventures and other investors.
Having transformed into a profitable and financially robust entity over the past two years, Pathao now plans to holistically serve its customers with fintech offerings.
“Pathao is far more than a brand, or a suite of products -- it is a lifestyle. Just as it has radically transformed urban transportation, logistics and the gig economy, our efforts in fintech will reshape the financial landscape in Bangladesh” said Fahim Ahmed, Managing Director and CEO of Pathao.