Karachi-based ecommerce logistics startup Rider has raised $2.3 million in a seed round led by Global Founders Capital, Fatima Gobi Ventures, and Asian Development Bank, it announced in a statement today. TPL E-Ventures and Transhold also participated in the deal.
Founded by Salman Allana in 2019, Rider offers last-mile delivery servicers to ecommerce retailers through its technology platform. The startup has over 500 drivers in its fleet with coverage across 80 cities in Pakistan. Rider claims to have delivered 1.5 million ecommerce parcels to date with a success rate of 93 percent. Its clients include the top five online retailers of the country including Khaadi and Daraz, said the startup in a statement.
The ecommerce logistics space in Pakistan is dominated largely by the traditional logistics firms but with offerings like 24-hour cash repayment, 1-day lead time, cash now deliver later, and a high success rate, Rider has made deep inroads into the market. Its tech stack which includes route optimization, live tracking, live scheduling, and highly automated warehousing has also helped the company a great deal to create efficient processes and build real-time connectivity between its shippers, delivery agents, and customers.
speaking about how their tech has helped them improve the success rate, Salman Allana, Founder and CEO of Rider, said, “When we launched Rider, only 80-85% of deliveries in Pakistan were making it to the customers’ doorsteps, translating millions of...
Read Full Story: https://www.menabytes.com/rider-seed/
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
