An important milestone for Pakistan’s startup scene has been reached when two Pakistani companies, DealCart and Nayapay, were listed on Forbes’ “Asia 100 to Watch 2024” list.
DealCart is recognized for its innovative approach in the online grocery market, targeting Pakistan’s growing middle class.
DealCart, situated in Karachi, was featured by Forbes as a newcomer to the online grocery market that aims to serve Pakistan’s growing middle class.
Customers can easily order necessities like snacks, fresh vegetables, and household goods via the platform, which also gives small grocery stores the chance to reach a wider audience.
The $4.5 million pre-seed investment round that DealCart successfully completed and the $3 million seed funding round that was co-led by London’s Sturgeon Capital and Abu Dhabi’s Shorooq Partners in July have powered the company’s growth.
Read more: Five Pakistanis Make It To Forbes 30 Under 30 Asia List For 2023
DealCart has successfully raised significant funding to support its growth. DealCart’s innovative approach and focus on affordability make it a standout player in Pakistan’s e-commerce landscape.
DealCart is an innovative e-commerce platform in Pakistan, designed to cater to the needs of price-conscious consumers.
- Group Buying Model:
DealCart allows users to buy products in groups, which helps unlock lower prices. Users can join existing groups or create new ones and share deals through social media platforms like WhatsApp.
- Focus on Affordability:
The platform targets middle and lower-income segments, which are often underserved by traditional e-commerce.
- Product Range:
DealCart offers a wide variety of products, including groceries, clothing, fashion accessories, mobile accessories, and personal care items.
- Innovative Approach:
The platform uses a gamified and interactive approach to make shopping more engaging.
NayaPay, on the other hand, is a fintech startup that aims to digitize transactions between consumers and businesses. Their platform offers features like an e-wallet, virtual debit card, and online payment solutions.
NayaPay is a fintech company that runs a payments processing platform aimed at digitising business-to-business transactions.
The startup offers point-of-sale devices that can be deployed in real shopfronts for businesses, along with features like an e-wallet, virtual debit card, and online payment solutions through its app.
The $13 million seed funding round that NayaPay received in 2022—led by Zayn Capital, MSA Novo, and Graph Ventures—was one of the largest in South Asia and increased the company’s influence.
This honour comes after a string of felicitations for Pakistanis on Forbes lists, which included seven names on the 30 Under 30 Asia list earlier this year. In March, Forbes published a list of the “100 Most Powerful Businesswomen 2024,” which included two Pakistani women in business.