KTrade raises 4.5 million dollars of financing from the Pakistan stock trade app

 

KTrade raises 4.5 million dollars

KTrade is a trade application that raises $4.5 million from foreign investors during a funding round:

KTrade, a leading stock trading application in Pakistan, today revealed that it secured $4.5 million during a funding round led by TTB partners from Hong Kong and HOF Capital from New York. The round included German fintech investor Christian Angermayer, German bank Managing Partner Berenberg, David Mortlock, as well as large Pakistani business families.

KASB Securities has developed KTrade, the retail fintech app for Pakistan's top stock brokerage. KTrade offers ordinary investors easy access to financial market markets like its global contemporaries, XP in Brazil, Zerodha and Groww in India, Tiger in China, Flatex in Germany and Robinhood in the United States.

 Since KTrade began its activities in 2019, it has more than 200 000 customers and it is hoped that by 2023, 10 million Pakistanis will use its mobile platform to invest in equities, bonds, commodities and joint ventures. The Karachi Stock Exchange Index (KSE100) has risen 19 % a year over the past twenty years, despite recurring market cycles.

Volumes have been increased seven times over the last 18 months, driven by the application and an increase in retail investor number. Retail investors now account for more than 65% of the global trading activity compared with about 45 % just 24 months ago. This investment opportunity is to be made available quickly and easily to individuals by KTrade.

 Ali Farid has created KTrade. He was the CFO of SafeCharge, which was acquired by Nuvi, a Fin technology firm listed in the UK, and a partnership at Alliance Bernstein's Autonomous Research in London. Since 2013 Ali has been a leading European technology analyst and is a Rhodes scholar.

 Ali Farid, KTrade's co-founder, said

In Pakistan, people usually use gold or property when considering investment choices. However, more individuals are comfortable investing in stock markets with Karachi Börse's regulatory approach, authority and trust growing. This is a trend that is encouraging, but it remains a challenge for millions to access those markets. This first mobile population will be able to take part in investment opportunities by KTrade. We can put unproductive asset-trapped money into the formal system by linking these people to companies and ultimately leading to a virtuous cycle of economic growth and total investment."

 As the next Indonesia, Pakistan emerges on the global investors' radar. A huge, young and growing smartphone of medium and high intensity has created excellent technological circumstances. KASB aims to enable retail savers, including access to financial education, information and financial products, to have access to better financial decision making.

 "Most people in Pakistan have no access to formal financial instruments and smaller, inefficient and costly savings on their goods or gold. Consequently, we seek to distribute access to and permit capital market investments. The high demand for KTrade shows that the market is prepared for this shift. In other regional and emerging markets, similar trends have been observed with successful Fintech start-ups, "Ali Farid pointed out that.

"Pakistan and South Asia have some of the most intriguing market data by means of means, KTrade being ideally positioned to capitalise on financial globalisation in the region," said Jonathan Bond, managing partner of TTB Parties which oversaw the finance round.

"We are happy to participate in KASB's newest investment round and to continue supporting Ali and his first-class teams. We were quite happy with the technological and educational development of KASB from the investment taken over by the company in recent years. In particular, Jonathan Bond said we believe in KTrade's excellent solution for developing investment interest in Pakistan."

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