Could Pakistan be the latest world stock market to see a blow-up of interest from retail investors? Ali Farid, the cofounder of KTrade , thinks that KTrade is the next big thing.
As reported in Forbes, the brokerage firm will be announcing a $4.5m funding round that Farid believes will position KTrade perfectly as a new generation of Pakistanis embracing the stock market. “It is time for people to get their money out from under their mattresses and get a better return from more formal types of savings,” Farid insists.
KTrade is the fintech retail trading app created by Khalid Ali Shah Bukhari (KASB) securities, the leading stock brokerage in Pakistan. KTrade provides easy access to financial markets for retail investors much like its global peers such as XP in Brazil, Zerodha and Groww in India, Tiger in China, Flatex in Germany, and Robinhood in the US.
Ali Farid led the creation of KTrade. He was previously the CFO of UK listed fintech company SafeCharge (acquired by Nuvei) and a Partner at Autonomous Research (acquired by Alliance Bernstein) in London. Ali is a Rhodes Scholar and has been a top ranked Technology Analyst in Europe since 2013.
“KTrade will enable this mobile-first population to participate in the investment opportunity. By connecting these people to companies we can drive capital trapped in unproductive assets into the formal economy which would eventually drive a virtuous cycle of economic growth and higher investments”, says Farid.
KASB’s aim is to provide retail savers access to financial education, information and financial products and to help them make better decisions in the field of finance.
“We aim to regularise access to the capital markets and enable them to make stock market investments. The strong demand for KTrade shows that the market is ready for this transformation. Other regional and emerging markets have seen similar evolution led by successful fintech companies” added Farid.