Pakistani IT Firms Shine at Singapore Fintech Festival

KARACHI: In recent years, Pakistan's IT and fintech sectors have been making significant strides on the global stage. With a growing number of companies eager to explore international markets, the country is positioning itself as a competitive player in the global fintech landscape. The recent participation of over ten Pakistani firms at the Singapore Fintech Festival (SFF) from November 6 to 8 is a testament to this ambition.

The Singapore Fintech Festival is recognized as the largest fintech event in the world, attracting participants from over 150 countries. This year, the festival saw more than 66,000 attendees, including numerous fintech operators and IT companies. Among the Pakistani participants were notable firms such as Hexalyze Consulting Services, eOcean, Cloudlead, Techlogix, Programmer Force, AdalFi, and AML Watcher. Their presence at such a prestigious event highlights the increasing visibility of Pakistan's tech industry on a global platform.

Pakistan's High Commissioner to Singapore, Rabia Shafiq, inaugurated the country's booths at the trade fair, marking a significant moment for the participating companies. Saad Shah, the CEO of Hexalyze Consulting Services, noted that the number of Pakistani companies at the SFF has increased compared to the previous year, which is a positive sign for the country's IT and fintech sectors. He emphasized that these companies are not only capable of generating export revenue but also have the potential to innovate within the financial sector.

One of the standout stories from the festival was that of ABHI, a Pakistan-based fintech company that received recognition for its success. CEO and Co-Founder Omair Ansari spoke about how fintech is rapidly transforming the global financial landscape, creating vast opportunities for Pakistani firms to make a significant impact both locally and internationally. He stated, "Our participation at the Singapore FinTech Festival showcases our dedication to advancing financial inclusion and accessibility across emerging markets." This commitment to innovation and accessibility is crucial for the growth of the fintech ecosystem in Pakistan.

Moreover, the festival served as a platform for networking and collaboration. A meet-up organized by Paklaunch for overseas Pakistanis, primarily venture capitalists, allowed local IT companies and fintech operators to connect with potential investors. This kind of engagement is vital for fostering relationships that can lead to future investments and partnerships.

In the context of funding, Pakistan's startups have recently achieved remarkable success, raising over $17 million in the current financial year through three deals. This follows a strong performance in the first quarter of FY25, where startups raised $15 million in four deals. Such achievements reflect the growing confidence in Pakistan's startup ecosystem and its ability to attract investment.

The participation of Pakistani IT and fintech companies at the Singapore Fintech Festival marks a significant milestone in the country's journey towards becoming a global player in the tech industry. As these companies continue to innovate and expand their reach, they not only enhance Pakistan's reputation in the fintech space but also open doors for future opportunities. The potential for growth is immense, and with continued support and investment, Pakistan's tech landscape is poised for a bright future.