In a landmark moment for Shark Tank Pakistan, a startup named Saraaf recently secured a groundbreaking investment deal. The company raised a total of PKR 80 crore in exchange for 20% equity, along with an additional PKR 70 crore in credit for a 3% royalty.
This deal, which amounts to roughly 50 million dollars, has set a new record for the largest investment in the history of Shark Tank, surpassing the previous high of 25 million dollars in Shark Tank USA.
Saraaf is a Pakistani company with over 25 years of experience in the import and export of premium stones like onyx, cotton, and minerals. Their vision is to become Asia’s largest B2B sourcing platform, and their appearance on Shark Tank was part of their strategy to expand further.
Read More: IDEAS 2024: Pakistan Showcases Shahpar-III Drone and Haider Tank
The show’s panel of investors, including Faisal Aftab, Rabeel Voraich, Romana Dada, Junaid Iqbal, and Usman Bashir, were impressed by Saraf’s business model and its potential for growth.
Following the pitch, Usman Bashir, CEO of Break Time, finalized the deal with the company.
This record-breaking deal has caused a stir on Pakistani social media, where reactions range from celebration to surprise. It’s being hailed as a significant achievement for Pakistani entrepreneurship, marking a turning point for local businesses aiming for global success.
