According to the official sources, KASB- the Karachi-based stock brokerage Securities that is owned and operational in stock trading app, KTrade has recently raised $4.5 million. This happened in a funding round that was led by a Hong Kong-based investment company known as “TTB Partners” and also the New York-based, VC HOF Capital (Global company).
This fund rising round was also joined by the investors of fintech, Christian Angermayer, along with the David Mortlock, who is the managing partner of the German investment bank Berenberg, whereas, other Pakistani business families also joined the round.
KASB is known to be one of the oldest brokerage houses in the country, Pakistan that was re-launched back in 2018 by Ali Farid, its investment executive who focuses on retail investing.
The firm was launched in 2019 and known as ‘KTrade’ that is a stock trading app for all the retail investors, since its launch it has been served a thousands of users in Pakistan.
According to the sources, the Managing Partner at the TTB Partners, Jonathan Bond said, “Pakistan and the South Asia have some of the most significant and exciting market dynamics as well as the demographics globally, and this KTrade is well-positioned to take advantage of this democratization of finance in this region.”