The price of consumer goods has been soaring all around the world, creating a major budgeting headache for many people. Social commerce startup DealCart wants to make life easier for shoppers, at least in Pakistan. The company announced today that it has raised $4.5 million in pre-seed funding just three months after their operational launch. The round was led by Shorooq Partners with participation from Fatima Gobi Ventures, Vibe Capital, 500 Global, i2i Ventures, Julian Shapiro, Rally Cap Ventures, Alex Lazarow and several “strategic angel investors.”
Founded by Haider Raza and Ammar Naveed, DealCart wants to address the low usage of e-commerce among middle and lower-income segments in Pakistan, even though more and more people have access to smartphones and the internet.
DealCart allows users to buy in groups and share deals through WhatsApp and other social media platforms. By participating in group buys, consumers are able to unlock lower prices. Customers have the option of either joining existing groups or creating a new one and sharing a link to their social media. When that number hits a threshold (usually about four people) within a 24-hour period, lower prices are unlocked.
Before launching DealCart, Naveed was a senior director a ride-hailing app Careem, overseeing operations across the Middle East and Pakistan, while Raza launched and scaled mobility startup Swvl in Pakistan, and also worked at Careem.
The founders told TechCrunch that their past experience...
Read Full Story: https://techcrunch.com/2022/07/27/dealcart-is-focused-on-price-conscious-pakistani-consumers/
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