Rider, a Pakistan-based logistics startup, has secured US$2.3 million in a seed round led by Global Founders Capital, Fatima Gobi Ventures, and Asian Development Bank’s venture arm ADB Ventures. Local investors TPL E-Ventures and Transhold also participated in the fundraise.
The startup was established in 2019 by Salman Allana, a former executive of UPS Pakistan. Rider provides last-mile delivery services for ecommerce transactions, serving more than 80 cities in the country with over 300 delivery agents.
It recently launched “cash now, deliver later,” a service that allows online shop owners to get advanced payments for their sales. The company said that since its inception, it has delivered more than 1.5 million packages with a 93% success rate.
Rider plans to use the fresh funds to integrate its service with other supply chain networks and build its end-to-end logistics solution, which includes ecommerce enablement.
Read Full Story: https://www.techinasia.com/rider-pakistan-seed-funding
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.