Rider, Pakistan’s first-ever logistics start-up to be backed by YC, is building modern logistics for online sellers across the country. In doing so, the start-up has attracted the attention of investors and as of today, it is announcing a $3.1M funding in collaboration with YCombinator and new investors including i2i Ventures, Flexport, Soma Capital, and Rebel Fund. The round also included the existing investors such as Global Founders Capital, Fatima Gobi Ventures (FGV), and TPL E-ventures along with the notable angel investor; Arash Ferdowsi (Co-Founder Dropbox). With this seed round, Rider has now raised a total of $5.4M since September 2021.
Founded in 2019, Rider has been building a network of sorting hubs, urban delivery centers, and a digitized fleet, offering online sellers in Pakistan a next-day ‘Amazon-like’ delivery service. The Rider platform offers route optimization for delivery agents, live tracking and scheduling for buyers, and a highly digitized warehousing function for sellers. Being led by Salman Allana, a former UPS Pakistan executive, the core team of Rider consists of former executives from Alibaba, Delivery Hero, and Jumo.
Since their pre-seed investment round in September 2021, Rider’s monthly revenues have grown by 110% and their customer base has doubled to 650 online sellers. Rider has now successfully completed the delivery of over 3M parcels across 60 cities in Pakistan.
Salman Allana, founder, and CEO of Rider commented:
“We launched Rider...
Read Full Story: https://www.techjuice.pk/rider-takes-off-with-a-3-1m-seed-round-to-courier-pakistans-businesses-into-the-21st-century/
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