Fintech TAG raised over $12 million in what is now the largest seed financing round in South Asia
Pakistan’s Fintech startup TAG received $12 million from investors in the largest seed financing round in the South Asian market.
The round was financed by Liberty City Ventures, Canaan Partners, Addition, Mantis and Banana Capital, and others, bringing the overall investment into the YC-backed startup to over $17.5 million. Most of these investors, including Lee Fixel’s Addition, have invested in any Pakistani startup for the first time.
Founded in 2020 by Talal Ahmad Gondal, Ahsan Khan, and Alexander Lukianchuk, TAG aims to capitalize on the expanding digital payments market in the country.
Following the latest funding round – which was completed in just two weeks – TAG values at $100 million, according to two people involved in the deal. Tag founder and chief executive Talal Gondal declined to comment on the valuation of the company.
The investor inclination to invest in TAG comes as the Fintech startup builds one of the crucial railroads for Pakistani users. “We are trying to become both Revolut and Paytm in Pakistan,” Talal said.
Sevices offered by Tag:
The company, through its all-in-one super financial app and user-friendly interface, offers numerous banking services including:
- Getting salaries on the Tag account
- Visa-powered virtual and physical cards
- Navigating through transactions
- Monitor scheduled payments and payment history
- Easy money transfer feature allowing you to transfer money to any bank or wallet in Pakistan
- Send and receive money instantly and without any charges to anyone with a TAG account
Signing up on Tag is an easy process that takes hardly three minutes.
About TAG
TAG is a one-year-old Fintech startup that partners with public and private firms in Pakistan to provide banking services and to their employees. The company uses cutting-edge technology to provide a safe and reliable experience to its users while being convenient and transparent. State Bank of Pakistan has already granted approval to the startup to run its pilot operations in Pakistan.