Pakistan Kuwait Investment Company Investment in Planet N
Planet N (Private) Limited, a business situated in Karachi, has received a 500 million rupee equity investment from Pakistan Kuwait Investment Company (Private) Limited (PKIC).
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Along with encouraging other investors to look into chances to promote and strengthen tech entrepreneurship and disruption in the nation, this investment will assist Planet N in expanding its activities.
The leading DFI for investment and development financing in Pakistan, with over 107 billion rupees in total assets and over 38 billion rupees in equity, is PKIC.
In 1979, the governments of Pakistan and Kuwait formed the PKIC, a financial organisation with a “AAA” (Triple A) rating.
Tapmad TV, Dawaai.pk, PublishEx, Tez Financial Services, Datalift, PiePie, Kashat, JinglePay, and other internet start-ups that are based in countries including Pakistan, the UAE, Egypt, Singapore, and the USA have all received funding from Planet N.
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In this historic deal, AHL served as the financial advisor.
Nadeem Hussain established Planet N in 2016 with the intention of making investments in high-tech businesses that are focused on growth. Hussain founded Telenor Microfinance Bank and served as its first CEO.
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