Technology
Pakistan’s startup scene seems to be racing at top gear as another fintech, Savyour, which says it has developed the country's first cashback app and pay-per-sale affiliate marketing network, has managed to raise $3.3 million in a seed round.
The seed round was co-led by Global Founders Capital and Zayn Capital. The round also saw participation by Fatima Gobi Ventures, Disrupt.com, Rally Cap Ventures, +92 Ventures, Suya Ventures, Mir Aamir, ex-CEO of Quotient Technologies and Pere Hospital, co-founder of Secways.
In its statement, the company said it looks to drive financial inclusion by incentivising transactions regardless of the mode of payment and its purpose is to enable consumers to buy better brands at the best prices while enabling brands, retailers and e-tailers to grow their business on a pay-per-sale model.
Talking to Business Recorder, co-founder and Chief Executive Officer of Savyour, Umair Gadit, said that this was their first-round and was "massively over-subscribed".
In response to a query on value-proposition, Umair said that for any brand to get listed on their platform, there is no upfront cost attached.
“They pay us commission only when a sale has been made through us, which we then split among our users (as cashback) and keep the rest. This model makes Savyour the most cost-efficient and ROI driven marketing platform.
“For a brand to connect with shoppers directly, they would have to opt for an alternate marketing channel for which they...
Read Full Story: https://www.brecorder.com/news/40132224/startup-rush-pakistan-fintech-savyour-raises-33mn-in-seed-round
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