Pakistan Just Had The Worst Quarter For Startup Funding: Report

Investments in the startup sector fell to $55.6 million in Q3, which is a whopping 68% decline over last year, and 46% drop compared to the last quarter. A report from Pakistani tech blog Data Darbar has revealed that Q3 2022 has been the worst quarter for startup funding in over a year.

The amount generated and the total number of deals fell sharply during the period. There were only 18 unique deals in total, which is the lowest since Q1 2021. However, investments in September 2022 reached $331 million across 61 unique deals and it could surpass last year’s figure of $366 million.

Fintech was the most funded sector in September with almost $193 million gathered so far. E-commerce gained $21.6 million through six deals in Q3. Most of the money was gained during the seeding stage, bringing the total for September to $82 million.

Q3 2022 saw the lowest participation from financiers since Q1 2022, with only 52 unique investors. As a comparison, there were more than 81 unique investors in Q2 2022. However, Pakistan was not the only market that was hit with such poor numbers.