Pakistan jobs marketplace startup pockets $6.5M funding

Naseeb Networks, the parent company of employment marketplaces Rozee.pk and Minhati.com, announced today that it has raised US$6.5 million in a Series C funding round. The investment is led by Vostok Nafta and Piton Capital, bringing the company’s total venture funding to US$8.5 million.

The company plans on using the fresh injection of capital to accelerate growth in its target markets of Pakistan and Saudi Arabia.

In 2008, Naseeb Networks became the first startup from Pakistan to receive VC funding. Since then, investors have seen 680 percent return on their capital, and revenue has increased hundred-fold.

“As talent continues to move online at a rapid pace in emerging markets, businesses need increasingly sophisticated recruiting technology customized to nuanced local market dynamics,” said Monis Rahman, CEO Naseeb Networks, in an emailed statement.

Vostok Nafta managing director Per Brilioth and Piton Capital partner Greg Lockwood will join the Naseeb Networks board. Both will also play a key role in charting the future course and strategy of the company.

“We are excited to partner with Naseeb Networks and impressed with what Monis and his team have achieved in Pakistan and Saudi Arabia,” said Brilioth.

This is a developing story and will be updated accordingly