Rider, a tech-led last-mile delivery partner for e-commerce retailers, has raised US$2.3 million in a seed round led by venture capital (VC) firm Global Founders Capital, Fatima Gobi Ventures, and Asian Development Bank. TPL E-Ventures and Transhold also participated.
The Karachi-based B2B2C service was launched in 2019 by Salman Allana, who was previously head of the strategy and business development at UPS Pakistan and assistant vice president at Citi Bank.
Today, Rider boasts coverage in over 80 cities across Pakistan, with shipper clients including Pakistan’s top five online retailers such as Khaadi and Daraz. The startup’s 500-strong delivery agent fleet — which is easily scalable at peak times — has thus far delivered more than 1.5 million e-commerce parcels across Pakistan with a market-leading success rate of 93%.
Rider’s exponential growth in just two years is thanks to its ability to weave global best practice technology and process innovation into its delivery cycles, building real-time connectivity between its shippers, delivery agents, and customers.
Today, Rider’s app-based platforms, route optimization, live tracking, live scheduling, and highly automated warehousing put the logistics tech startup at the forefront of Pakistan’s burgeoning last-mile delivery space.
Market-leading offerings such as 24-hour cash repayment, 1-day lead time, ‘Cash Now, Deliver Later’, and high overall delivery success rate has made Rider the preferred last-mile delivery partner...
Read Full Story: https://www.techjuice.pk/pakistani-startup-rider-bags-2-3-million-in-seed-funding-round-led-by-global-founders-capital-fatima-gobi-ventures-and-asian-development-bank-to-drive-pakistans-growing-logistics-and-e-com/
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