– Pathao raised $12 million in a pre-Series B funding round, bringing its total capital to over $50 million, the highest for any pre-Series B startup in Bangladesh.

– The funding round was led by VentureSouq, with participation from Anchorless Bangladesh, Osiris Group, South Asia Tech, Openspace Ventures, and others.

– The company plans to expand into fintech, aiming to revolutionize Bangladesh’s financial landscape following its success in urban transportation, logistics, and the gig economy.

Pathao, a Bangladesh-based logistics services app, successfully raised $12 million in a pre-series B funding round as part of its new strategy towards fintech.

According to a statement from Pathao, this latest investment brings its total capital to over $50 million, setting a record for the highest amount raised by a pre-series B startup in Bangladesh.

The funding round was led by VentureSouq, an investment firm based in the Middle East and North Africa, which has backed various platforms across the Middle East, Africa, and South Asia. Other contributors included Anchorless Bangladesh, Osiris Group, South Asia Tech, Openspace Ventures, and additional investors.

Over the past two years, Pathao has evolved into a profitable and financially stable company. It now plans to expand its service portfolio, with a particular focus on fintech, the statement noted.

“Pathao is more than just a brand or a collection of products—it’s a lifestyle. Just as we’ve revolutionized urban transportation, logistics, and the gig economy, our fintech efforts will redefine the financial landscape of Bangladesh,” said Fahim Ahmed, managing director and CEO of Pathao.