$5 million deal in Shark Tank Pakistan shatters US version’s global record

A Pakistan-based commodity sourcing company, Saraaf, has secured a deal of whopping Rs1.5 billion ($5 million) in Shark Tank Pakistan, shattering the global record for volume of any deal in the hit investment show around the world.

As per the details, Saraaf made history by securing the deal which is one of the largest in the show's history. The founders of the company raised Rs80 crores of 20% equity and an additional Rs70 crores as a line of credit with 3% royalty to expand its operations and achieve ambitious goals.

Previously, the highest-ever investment made by investors in any country’s version of Shark Tank was $2.5 million in the American version of the show. 

Saraaf, which specialises in premium onyx, cotton and minerals, has over 25 years of experience and is known for dominating Pakistan's onyx and marble exports. Their mission is to become Asia's largest business-to-business (B2B) sourcing platform.
Shark Tank Pakistan is the latest instalment of the business reality show where entrepreneurs pitch their ideas to a panel of investors known as "sharks." The show aims to inspire and support Pakistan's startup ecosystem by providing funding and mentorship to promising business ideas.

The sharks on the panel include experts like Faisal Aftab, Rabeel Warraich, Romanna Dada, Junaid Iqbal and Usman Bashir, who were impressed by Saraaf's business model and potential for growth.

Usman Bashir, the founder and CEO of Braketime! – an unstoppable force in the Pakistani-American business landscape – was the one to strike the deal with Saraaf.

The Pakistani version of the show has already seen some exciting pitches, including one from Arshad Khan, the famous "blue-eyed Chaiwala," who secured a deal for his chai business. Shark Tank Pakistan is a great platform for budding entrepreneurs to showcase their innovations and potentially receive the investment they need to grow their businesses.

While the show had been a hit with audiences in the United States (US) for better part of a decade, it gained popularity with Pakistani audiences after first season of Shark Tank India was aired in 2021.

Much like other instalments, Shark Tank India features a panel of potential investors or angel investors, who listen to entrepreneurs' pitch ideas for a business or product they wish to develop. The self-made multi-millionaires judge the business concepts and products pitched, deciding whether to invest their money to help market and mentor each contestant.