Pakistan’s startup ecosystem raised $36.6 million in disclosed equity funding during 2025, according to Data Darbar, signaling a modest rebound after a cautious period.
The year saw 14 equity transactions, though only 10 rounds disclosed funding amounts, reflecting continued investor prudence at seed and angel stages. Despite a slight decline in deal flow compared to 2024, the increase in total capital deployed suggests renewed confidence in startups with clear paths to scale and revenue generation.
Fintech remained the dominant sector, leading both funding value and deal activity. Haball’s Pre-Series A round emerged as one of the most significant equity raises of the year, backed by institutional investors.
Metric also raised $1.3 million in a seed round, highlighting continued investor interest in B2B financial infrastructure, while consumer-facing fintech platforms such as Qist Bazaar attracted smaller, structured capital linked to Series A growth trajectories.
Healthtech was the second strongest sector in both funding and transaction volume, led by MediQ, which secured $6 million in a Series A round, one of the largest disclosed deals of the year. Early-stage health and wellness startups focused on digital care delivery, diagnostics, and preventive health contributed to deal activity, indicating sustained investor interest despite broader funding constraints.
Other sectors, including commerce enablement, logistics, and SaaS, saw smaller-scale investments, mainly at seed and angel levels, showing cautious experimentation rather than aggressive capital deployment.
Female-led startups raised $8.8 million, nearly one-quarter of total capital deployed, reflecting improved participation in the ecosystem, though percentage gains are inflated by the low overall funding base.
Overall, the data indicate that Pakistan’s startup ecosystem in 2025 is stabilizing rather than fully rebounding, with capital increasingly concentrated in fewer companies. Funding activity was largely driven by conviction-based investments in fintech and healthtech, suggesting that investors are prioritizing startups with clear growth potential and scalable business models.
