Two Pakistani Startups Make it to Forbes Asia ‘100 To Watch’ List
Pakistani Startups Make it to Forbes ‘Asia 100 to Watch 2024’
Two early-stage Pakistani startups, DealCart and Nayapay, find their place in Forbes’ ‘Asia 100 to Watch 2024‘.
Read More: Pakistani Businesswomen Ranks in Forbes’ Top 10 List
This recognition brought both startups to the light as innovative innovations that are influencing Pakistan’s growing start-up ecosystem.
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DealCart: The Online Grocery Game Changer
Location: Karachi
Industry: E-commerce
DealCart is the classiest force thousands will be using to refine their grocery needs:
- Fresh fruits and vegetables
- Snacks
- Detergents
- Other daily essentials
Funds Raised in Various Rounds
- Pre-seed funding: $4.5 million
- Seed funding: $3 million (Co-led by Abu Dhabi’s Shorooq Partners and London’s Sturgeon Capital)
Revenue Model: DealCart has raised an outbound audience base by selling free and fast grocery deals. This has effectively stamped DealCart as the leading industry player in Pakistan’s online retail market.
Nayapay: Bigger Wave In Pakistan’s Digital Payments Sector
Nayapay adds up to form one of the most advanced digital payments infrastructures in Pakistan. The company offers various financial services from an electronic wallet towards,
- Virtual debit card
- Secure way of digital transaction
- Point-of-sale devices designed to assist in making business-to-business transactions smoother
Milestones:
• $13 million in seed funding (one of the largest transacted in South Asia, from Zayn Capital, MSA Novo, and Graph Ventures)
Vision: Nayapay is a company that seeks to improve access and effectiveness when delivering digital financial services in Pakistan. Noted among others in Forbes’ list, Nayapay is recognized for the innovation it affords to the fintech industry.
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Growing Global Recognition for Pakistani Entrepreneurs
Recent Accolades:
- Forbes 30 Under 30 Asia (2024): Seven Pakistani individuals were honored for their contributions across various sectors.
- Forbes ‘100 Most Powerful Businesswomen 2024’: Businesswomen participants, DealCart and Nayapay have been bucking the Pakistan flag high in the international business domain.
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Conclusion: Two Pakistani Startups Make it to Forbes Asia ‘100 To Watch’ List
Incorporation of DealCart and Nayapay in Forbes ‘Asia 100 to Watch 2024’ list simply meant Pakistan startup ecosystem unearths giant potential. With more new ideas brewing, they are sure to get deeper into the economy’s skin in the years to come.
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