Pakhtun Wardrobe receives funds committed during Shark Tank Pakistan after due diligence completed

Pakhtun Wardrobe, a sustainable fashion startup founded in Pakistan's Swat, has secured investment from Shark Tank investor Junaid Iqbal and CEO of Allied Services Shezad Mumtaz after successfully clearing a detailed due diligence process.

The investment marks a key milestone in the brand’s growth journey, the startup said in a press release.

Founded by Haris Badar in 2015, Pakhtun Wardrobe is known for reviving traditional Pashtun crafts, particularly handcrafted footwear and shawls, by integrating them into a fully digital retail experience.

“We’re thrilled to close this deal and welcome Junaid and Shezad on board,” said Badar said. “With this investment, we hope to accelerate our growth and expand beyond Pakistan, particularly into the Middle East.”

Junaid Iqbal, founder and CEO of Salt Ventures, praised the company’s strong foundation and cultural relevance. “Haris and his team have built a formidable business, rooted in a craft that is passed down through generations and woven with a fully digital customer experience. We are excited to be a part of this journey,” he said.

The due diligence process was co-led by Saiduddin & Co, whose partner Ammar Athar Saeed emphasized the startup’s commitment to transparency and governance.

“We ran a comprehensive legal, financial, commercial, and operational due diligence process, and Pakhtun Wardrobe cleared every step,” said Saeed. “It is crucial for startups to not only build and scale their businesses but also implement the highest levels of corporate governance from the get-go. Pakhtun Wardrobe has done exactly that. This is a key ingredient not only for securing growth finance, but also for ensuring long-term sustainability and institutionalization.”

The announcement comes months after social media uproar following the revelation that a $5.4 million deal announced in Shark Tank—the largest in the show's history—never materialized.

Nukta sources later confirmed a major overhaul was underway after Season 1 sparked internal concerns. The producers and license holders are introducing a stricter vetting process to ensure greater accountability and investor credibility in Season 2. The aim is to rebuild trust with both founders and viewers by ensuring that on-air deals lead to real investments.