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Sequoia Enters Pakistan’s Startup Economy by Backing Fintech

  • Startup Dbank is founded by two former Google employees
  • Pakistan has the world’s third-largest unbanked population

Pakistani fintech company Dbank pulled off the nation’s largest early-stage fundraising round, which also marked venture giant Sequoia Capital’s entry into the nation’s startup economy.

Dbank raised $17.6 million in the seed round co-led by Sequoia Capital Southeast Asia and Kleiner Perkins. Digital banking platform Nubank, RTP Global, Rayn and local partner Askari Bank Ltd. also participated.