Airlift secures $85m in series B financing

Pakistan-based start-up - Airlift - has announced $85 million series B financing led by investors around the world and is one of the largest financing in the Middle East and North Africa (MENA) region co-led by Josh Buckley (Buckley Ventures) and Harry Stebbings (20VC).

According to a statement issued, other major participants included Sam Altman (ex-President YCombinator), Biz Stone (Co-founder at Twitter/Medium), Jeffrey Katzenberg (ex-CEO Disney), Taavet Hinrikus (Founder/CEO at TransferWise), and Seve Pagliuca (Co-Chairman, Bain Capital).

The financing is about twice the size of the largest private company initial public offering (IPO) in Pakistan’s history and the highest in the MENA region, bringing a number of implications for the country.

The company plans to bring foreign investors to invest in Pakistan. “It will garner confidence that great technology and consumer products can be built in Pakistan, and that this region of the world has some of the best talents,” the statement added.