Sign in
Pakistan’s PostEx closes USD 7.3 mn pre-series A round: Pakistan-based fintech and logistics company PostEx secured USD 7.3 mn in pre-series A funding round, according to a press release (pdf). The funding round was led by Dubai-based Conjunction Capital, seeing participation from Jordan’s Dash Ventures, and Saudi Arabia’s Sanabil500. The investment will allow PostEx to expand its operations in the GCC and double down its presence in Pakistan, according to the statement.
(** Tap or click the headline above to read this story with all of the links to our background as well as external sources.)
Investors ❤️ PostEx: The startup raised USD 1.5 mn in a previous seed round in 2021, bringing the total amount secured in funding to USD 8.8 mn, led by MSA Capital. Shorooq Partners, Zayn Capital, VentureSouq, PNO Ventures, +92 Ventures, and Arbisoft’s CEO Yasser Bashir also participated in the funding round.
PostEx is focusing its GCC expansion drive on the UAE and Saudi Arabia, PostEx CEO Omer Khan told EnterpriseAM UAE. The company launched a pilot in Saudi Arabia with online merchants and local financing partners to fine-tune its offering before a full market entry. In the UAE, PostEx will adopt a more measured approach, prioritizing e-commerce financing over logistics due to the sector’s maturity in the Emirates, Khan said.
More on PostEx: The Punjab-based company offers up-front payments for cash-on-delivery e-commerce orders placed by suppliers, supported by a nationwide logistics network. PostEx serves 15k e-commerce merchants, with 80% using both its payment and logistics solutions, while the rest rely solely on its logistics services, according to Khan.
PostEx provides funding exclusively to e-commerce businesses that use its logistics network, a strategy that helped to maintain the company’s non-performing loan rate below 0.03%, according to Khan. The company covers around 60-70% of order values, with the remaining balance provided after delivery and payment. Financing levels are determined by the size of the business and the scale of its orders.
