Pakistan’s SaaS e-commerce start-up, Webx, has raised its first seed round funding at a valuation of nearly $1 million to expand its consumer base.
According to an official press release, the round was arranged by Al-Hilal Securities Advisors, a UAE-based entity that provides business solutions in the region.
Al-Hilal Securities Advisors’ Chief Executive, Faraz Younus Bandukda, CFA, declared, “We are honored to assist this team led by Waleed Masood & Fraz Saleem. They are highly determined and passionate about building captivating experiences that dedicated communities can grow around — which aligns perfectly with our belief that e-commerce platforms will grow in the country”.
“Over the last two years, in particular, we’ve seen Pakistan’s digital space exploding exponentially and international investors are excited to partner with Webx as they continue serving and growing this community,” he continued.
Zaheeruddin Khalid, CFA, who is leading the investment round for Webx, is excited about the opportunity and has confirmed his stance for investments in Pakistan.
“Pakistan is a country with 60 percent of its 230 million-plus population in the 15 to 29 age group, which is the most tech-savvy age bracket globally, is all geared up for the digital age. Ecommerce and fintech in Pakistan has seen phenomenal growth and we are excited to partner with Webx to be part of this ecosystem and play our part in the growth of technology in Pakistan,” he said.
Officially launched in...
Read Full Story: https://propakistani.pk/2022/02/16/pakistans-webx-raises-its-first-seed-funding-from-uae-based-al-hilal-securities-advisors/
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