Pathao raises $12 million in foreign funds

Pathao has raised $12 million in a pre-series B funding round as part of the company's strategic shift towards fintech.

According to a company statement, this latest investment brings Pathao's total capital to over $50 million, the highest amount raised by a pre-series B startup in Bangladesh.

The funding round was led by Middle East and North Africa-based VentureSouq, which has made platform investments across the Middle East, Africa, and South Asia. Additional investments came from Anchorless Bangladesh, Osiris Group, South Asia Tech, Openspace Ventures, and other investors.

Over the past two years, Pathao has transformed into a profitable and financially strong entity. It now aims to broaden its service offerings with a focus on fintech, the statement added. 

"Pathao is more than just a brand or a suite of products—it's a lifestyle. Just as we have revolutionised urban transportation, logistics, and the gig economy, our efforts in fintech will reshape Bangladesh's financial landscape," said Fahim Ahmed, managing director and CEO of Pathao.

As the market leader in logistics, ride-sharing, and food delivery, Pathao has made significant progress in fintech, launching Pathao Pay, a digital wallet, and Pay Later, Bangladesh's first and largest buy-now-pay-later solution.