Biography of Junaid Iqbal: Founder of Careem Pay & Salt Ventures -Entrepreneur
Junaid Iqbal: A Journey of Vision and Leadership
Early Years and Education
Junaid Iqbal’s journey started in Karachi, Pakistan, where
he grew up with a passion for learning and leadership. He attended The Lyceum
School, where he focused on Economics and actively participated in
extracurricular activities. Junaid served as the president of Amnesty
International and the Photography Club, and even joined the editorial board of
his school’s magazine. His interest in leadership continued into his university
years, where he attended the University of Michigan and earned a BA in Economics,
all while taking on the role of Vice President at AIESEC Michigan. His diverse
interests in economics and leadership set the stage for a successful career.
Exploring the World of Finance and Economics
Upon graduation, Junaid embarked on his career in the energy
sector, working as a power trader and energy analyst at American Electric
Power. Here, he honed his skills in analyzing markets and trading power,
focusing on natural gas and coal markets. He created models that predicted
power prices and improved the use of an 8,000-megawatt power system, cementing
his expertise in financial markets and energy. This experience laid the
groundwork for his transition into the world of media and financial analysis.
Breaking into Media and Anchoring
Junaid’s next venture took him into media, where he played a
pivotal role in shaping the financial landscape in Pakistan. From 2004 to 2005,
he worked as an anchor, producer, and market analyst at Geo TV, where he helped
create Pakistan’s first daily stock market show, Tezi Mandee. His role as a
market analyst and anchor allowed him to provide valuable insights into the
financial policies and market trends that were shaping the country’s economy.
A Role in the Securities and Exchange Commission
In 2005, Junaid’s career took another turn when he joined
the Securities and Exchange Commission of Pakistan (SECP) as head of research
and official spokesperson. Here, he represented the SECP in various national
assemblies and senate committees on finance. He also established the SECP’s
first in-house analytics division, which helped improve the regulatory
framework for Pakistan’s financial markets.
Shaping CNBC Pakistan’s Financial News
Junaid’s deepening expertise in finance led him to a key
role at CNBC Pakistan from 2005 to 2007. As anchor and head of research, he
launched the popular show Power Lunch, and interviewed key figures like
Muhammad Yunus, a renowned economist and Nobel laureate. His tenure at CNBC
allowed him to elevate the network’s coverage of Pakistan’s economy and
financial landscape.
Transition to Corporate Leadership
In 2007, Junaid transitioned to corporate finance, joining
BMA Financial Services Limited as CEO. During his time there, he introduced
Pakistan’s first independent platform for mutual funds, stocks, and other
financial products. He successfully raised Rs. 7 billion through sales and
developed tools to simplify client investments. His leadership at BMA allowed
him to build a stronger client base and increase revenue, positioning the
company as a leader in the financial services sector.
Leadership at Elixir Securities
In 2011, Junaid took on the role of CEO at Elixir
Securities, where he spearheaded a major turnaround for the company. Under his
leadership, Elixir delivered a remarkable 2.6x return for shareholders, and
Junaid expanded the corporate finance division. One of his most significant
achievements was managing Pakistan’s $1.02 billion sale of HBL Bank shares,
which solidified his reputation as a prominent financial leader.
Joining Careem: The Ride-Hailing Giant
In 2015, Junaid’s career took an exciting turn when he
joined Careem, a leading ride-hailing company in the Middle East. Junaid’s role
as Managing Director for Pakistan involved overseeing the company’s expansion
into major cities across the country. His efforts played a crucial part in
Careem’s growth, and he was later appointed Managing Director for Saudi Arabia,
where he continued to expand Careem’s presence in the region.
Careem Pay and Expansion
In 2019, Junaid took on a new challenge as the Managing
Director of Careem Pay, Careem’s fintech arm. His leadership was instrumental
in scaling Careem Pay’s operations, contributing to the company’s overall
success. His strategic focus on expanding Careem’s services in the region made
him an integral part of the company’s journey, culminating in the company’s
acquisition by Uber in 2020.
The Entrepreneurial Journey: Salt Ventures
In December 2021, Junaid took a bold step in his career by
founding Salt Ventures, an early-stage venture investing and advisory firm
based in Dubai. Focused on MENAP (Middle East, North Africa, Afghanistan, and
Pakistan) markets, Salt Ventures has invested in a wide range of industries,
from open banking and retail automation to women’s health and logistics. This
new venture has allowed Junaid to leverage his vast experience in both the tech
and financial sectors to support innovative startups.
Mentors Fund: A Strategic Partnership
Junaid’s entrepreneurial spirit also led him to become a
partner at Mentors Fund, a San Francisco-based investment firm. Through this
partnership, Junaid has been able to apply his financial expertise to guide and
mentor early-stage startups, particularly in the areas of tech, finance, and
entrepreneurship. His global outlook and strategic vision have positioned him
as a key player in the startup ecosystem.
Salt Arts: Fostering Cultural Expression
In addition to his work in venture capital and finance,
Junaid has also made his mark in the arts and entertainment sector. Since 2015,
he has served as the chairman of Salt Arts, a Dubai-based music, art, and
entertainment agency. Salt Arts is dedicated to promoting cultural exchange
through creative events and artist management, enriching the arts scene in
Pakistan and South Asia.
Biography of Junaid Iqbal: Founder of Careem Pay & Salt Ventures -Entrepreneur #startup#age#net worth#shark tank pakistan#investor#Junaid Iqbal story
An Advocate for Innovation and Entrepreneurship
Junaid’s extensive career in finance, media, and
entrepreneurship has made him a respected voice in the business world. He is
often invited to share his insights on entrepreneurship, innovation, and
economic policy at international forums, including the US President Obama’s
2010 Summit on Entrepreneurship. His reputation as a forward-thinking leader
has earned him recognition as one of the most influential figures in Pakistan’s
business community.
The Man Behind the Vision
Beyond his impressive professional accomplishments, Junaid
is known for his people-focused leadership style. His ability to navigate
complex challenges and drive growth has made him a highly sought-after leader
in the corporate world. Junaid’s entrepreneurial spirit and dedication to
solving tough problems continue to shape the future of the companies he leads
and the industries he influences.
A Personal Journey of Growth and Impact
Junaid Iqbal’s journey from a young student in Karachi to a
successful entrepreneur and business leader is a testament to his relentless
pursuit of excellence. His experiences have shaped him into a versatile leader
with a broad understanding of economics, finance, technology, and culture. As
he continues to expand his influence in various sectors, Junaid’s story is one
of constant growth, innovation, and impact.
Timeline for story
Early 1980s - Junaid Iqbal born in Karachi, Pakistan.
Late 1990s - Attended The Lyceum School and participated in
leadership roles.
2001-2005 - Studied Economics at the University of Michigan
and led AIESEC Michigan.
2004-2005 - Worked as an anchor, producer, and market
analyst at Geo TV.
2005 - Joined Securities and Exchange Commission of Pakistan
(SECP) as head of research.
2005-2007 - Worked as anchor and head of research at CNBC
Pakistan.
2007 - Became CEO of BMA Financial Services Limited,
launching Pakistan’s first independent mutual fund platform.
2011 - Appointed CEO at Elixir Securities, delivering a 2.6x
return for shareholders.
2015 - Joined Careem as Managing Director for Pakistan,
later expanding to Saudi Arabia.
2019 - Became Managing Director of Careem Pay, Careem's
fintech arm.
2020 - Contributed to Careem’s acquisition by Uber.
December 2021 - Founded Salt Ventures, a venture investing
firm focused on MENAP markets.
Ongoing - Partner at Mentors Fund and chairman of Salt Arts,
promoting cultural exchange and innovation.
