Stating that Pakistan possesses huge potential and business friendly environment, Prime Minister (PM) Imran Khan welcomes investment of $85Million in Pakistani-led company Airlift.
According to the details, PM Imran Khan in his message on social networking site Twitter welcomed the recent investment of $85 million in Airlift Company and said that it is a company led by Pakistani youth.
“Welcome recent investment of 85 Million USD by leading VCs of the world in Airlift, a company led by young Pakistanis,” PM Khan said on Twitter. “Pakistan has huge potential and we are open for business. My govt is fully committed to creating opportunities.”
We welcome the recent investment of 85 Million USD by leading VCs of the world in Airlift, a company led by young Pakistanis. Pakistan has huge potential and we are open for business. My govt is fully committed to creating opportunities.
— Imran Khan (@ImranKhanPTI) August 20, 2021
Airlift Secures $85m in Series B Financing, Largest in MENA Region
Airlift recently announced $85 million in Series B financing. Airlift has opened a new door that will enable investors to invest in Pakistan and build confidence that Pakistan has the potential to create amazing technology and consumer products. The company itself has increased Pakistan’s foreign direct investment (FDI) by 5% for the fiscal year 2021. This funding will usher in a new era of technology startups in Pakistan that could contribute more than 10% to FDI alone in the coming years.
Thank you Prime Minister @ImranKhanPTI for calling attention to #Airlift’s milestone that will pave the way for future investment in #Pakistani #startups. Onwards & upwards! #PakistanKaAirlift https://t.co/REmNL2FgmV
— Airlift Pakistan (@airlift_pk) August 20, 2021
The financing is about twice the size of the largest private company initial public offering (IPO) in Pakistan’s history and the highest in the Middle East and North Africa (MENA) region, bringing a number of implications for the country. Airlift started out in 2019 as an alternative to Uber, Careem and public transportation, allowing users to book rides on premium quality, air-conditioned buses and vans with fixed routes, stops and times.
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However, with disrupted mobility in the country due to the coronavirus pandemic, in September last year, the company decided to venture into the quick e-commerce space with online deliveries.
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