Pakistan's KTrade raises $4.5 million for its stock trading app
Karachi-based stockbroker KASB Securities, who owns and operates the stock trading app KTrade, raised $ 4.5 million in a financing round led by Hong Kong-based investment firm TTB Partners and New York-based global VC HOF Capital . Fintech investor Christian Angermayer and David Mortlock, managing partner of the German investment bank Berenberg, as well as Pakistani entrepreneurial families also took part in the round. KASB is one of the oldest brokerage houses in Pakistan and was relaunched in 2018 by Investment Executive Ali Farid with a focus on retail investments. The company launched KTrade, a stock trading app for individual investors, in 2019 and has since served thousands of users in Pakistan. The app enables users to sign up for a brokerage account and start trading with as little as 5,000 PKR ($ 32). KTrade charges 0.03 PKR for trading shares at a price of 20 PKR or less and 0.15 percent of the share price for shares with a price greater than 20 PKR. On their website, t...