[Karachi: 15th June 2021]: KASB, Pakistan’s leading stock brokerage has raised $4.5m from global investors in one of the largest fintech investments in Pakistan. KASB will use the money to help Pakistanis better manage their savings and invests in Pakistani stocks and commodities.
KTrade is the most downloaded stock trading app in Pakistan with over 200,000 active downloads. KASB’s mission is to make 10 million Pakistanis invest in companies listed in Pakistan through KTrade.
Using KTrade Pakistanis can now invest in stocks at the comfort of their homes. They can track their portfolio 24/7, get access to KASB’s award-winning research and advice on investments and also practice trade using the virtual trading features.
Pakistan Stock Exchange has outperformed global markets on the back of the economic recovery and favourable government policies. KSE100 Index is up more than 40% over the past 12 months and many Pakistani stocks have outperformed even Bitcoin. The best performance is in the technology sector which shows the confidence of both local and global investors in Pakistan’s technology sector.
KASB’s fundraising and backing by global investors are making headlines in the global press and has been featured in Forbes, Bloomberg, Tech in Asia, and other leading press.
Mr. Ali Farid Khwaja, Chairman of KASB said ‘Most people in Pakistan lack access to formal financial products. Their savings in real estate or gold offer inferior returns, these are inefficient and have high transactional costs. Hence we at KTrade believe in financial democracy and financial literacy by educating clients and giving them access to the stock market’.