No funding, mo’ problems in Pakistan

More: The new US$627 million fund of Malaysia’s Khazanah. [Read from your browser]( Daily Newsletter Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [The Pakistan startup ecosystem’s defining test]( - How BNPL gave Atome Financial a solid 2023 - Other newsy highlights such as Khazanah Nasional’s new fund for SEA startups --------------------------------------------------------------- Hello {NAME} The hardest lessons usually stick with us the strongest. When we lose a job, when an investment doesn’t work out, or when we burn a bridge - these experiences yield lessons that last a lifetime. And we’d better learn from those setbacks; otherwise, we’ll be doomed to repeat them. It seems Pakistan’s startup ecosystem has digested a tough lesson or two. As today’s premium piece explores, startups that expected funding to keep flowing like it did a few years ago have fallen by the wayside, while those that focused on saner unit economics have stuck around. -- Peter --------------------------------------------------------------- THE BIG STORY [Pakistan’s startup funding shortage sorting the wheat from the chaff]( After the funding bonanza of 2021 dried up, the country’s startup ecosystem contracted in various ways, but that may not be entirely a bad thing. --------------------------------------------------------------- TRENDING NEWS [Atome Financial logs EBITDA profit in Q1 amid BNPL growth]( Atome, the company’s BNPL unit, also turned profitable in 2023. [Malaysia to set up $627m fund for startups in Southeast Asia]( Malaysia is also offering subsidies for office rentals and visa waivers to global tech companies expanding to the country, Bloomberg reported. --------------------------------------------------------------- VISUAL STORY OF THE DAY [SEA funding round sizes over the past 5 years]( For startups, understanding how much their peers are raising could be crucial when they're pitching investors. --------------------------------------------------------------- TECH IN ASIA’S FOUNDERS MEETUP: VIETNAM ON MAY 30 Early bird tickets are sold out – secure your seat now! Investors and founders from Vietnam, Taiwan, and beyond have already secured their spots at our Founders Meetup in Vietnam! Will you be joining them? Founders Meetup brings together leading minds from across the tech industry. 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