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Introduction
Two Pakistani startups, DealCart and NayaPay, have earned a place on Forbes’ prestigious ‘Asia 100 to Watch 2024’ list, highlighting their innovative contributions to the e-commerce and fintech sectors. This recognition marks a significant achievement for the burgeoning tech scene in Pakistan and shines a spotlight on the country’s growing potential in the global market.
DealCart: Revolutionizing Online Grocery Shopping
Karachi-based DealCart is a startup that aims to cater to Pakistan’s expanding middle class by providing an online platform for grocery shopping. With a focus on fresh produce, snacks, detergents, and other essentials, DealCart allows consumers to conveniently order items from the comfort of their homes. Additionally, the platform offers small grocery stores the opportunity to reach a broader customer base by selling their products through DealCart.
In its early stages, DealCart successfully raised $4.5 million in pre-seed funding, demonstrating investor confidence in its business model. Recently, the company secured an additional $3 million in seed funding, with support from Abu Dhabi-based Shorooq Partners and London-based Sturgeon Capital. This financial backing will enable DealCart to expand its operations and enhance its services to better serve its growing customer base.
NayaPay: Pioneering Fintech Solutions in Pakistan
NayaPay, another Karachi-based startup, is making waves in the fintech industry with its comprehensive payments processing platform. The startup offers a range of digital financial services, including an e-wallet, virtual debit card, and online payments. NayaPay also provides point-of-sale (POS) devices for businesses, allowing them to seamlessly integrate digital payments into their operations.
In 2022, NayaPay raised an impressive $13 million in one of the largest seed funding rounds in South Asia. The round was led by prominent investors such as Zayn Capital, MSA Novo, and Graph Ventures. NayaPay’s inclusion in Forbes’ ‘Asia 100 to Watch 2024’ list is a testament to its innovative approach to digitalizing financial transactions and its impact on Pakistan’s fintech landscape.
The startup expressed its excitement about being featured on the list, stating, “This recognition places us among the most innovative trailblazers across 16 regions around the world.”
Pakistan’s Growing Presence on the Global Stage
The inclusion of DealCart and NayaPay in Forbes’ ‘Asia 100 to Watch 2024′ list is part of a larger trend of Pakistani entrepreneurs gaining international recognition. Earlier this year, seven Pakistanis were featured in Forbes’ 30 Under 30 list for Asia, showcasing the country’s young talent and entrepreneurial spirit. Additionally, two Pakistani businesswomen were honored in Forbes’ ‘100 Most Powerful Businesswomen 2024’ list in March.
These achievements underscore Pakistan’s rising influence in the global business community and highlight the potential of its startups to make a lasting impact on the world stage.
Conclusion
The recognition of DealCart and NayaPay by Forbes is a significant milestone for the Pakistani startup ecosystem. As these companies continue to grow and innovate, they are paving the way for other entrepreneurs in the country to follow suit. With a strong foundation and the support of international investors, Pakistan’s tech scene is poised for continued success and global recognition.
