Pakistan’s PostEx Secures $7.3 Million to Expand in MENA

by | Aug 23, 2024 | Startups News | 0 comments

Lahore-headquartered startup PostEx has raised $7.3 million in a pre-Series A round, led by Dubai-based Conjunction Capital. Consequently, this new funding brings the total to around $16 million. Investors include Dash Ventures, Sanabil500, and existing supporters such as VentureSouq, FJ Labs, and Zayn VC.

PostEx: Evolution from Logistics to Financial Solutions

Founded in 2020 by Omer Khan, Saad Mahmood, Babar Razzaq, and Adil Naseem, PostEx started as a third-party logistics provider for e-commerce. It has since evolved to offer Shariah-compliant, non-dilutive financing, leveraging data from its logistics services.

To date, PostEx has loaned $90 million to over 8,000 businesses, quickly converting recurring revenue into instant capital, though specific loan details are not provided on their website.

Strong Market Position and Future Plans

ostEx has shown strong performance with an annual revenue run rate of $21 million and over four million transactions monthly. It has been profitable for several months and strengthened its position by acquiring Call Courier, a leading e-commerce logistics firm in Pakistan.

Looking ahead, PostEx plans to use its latest funding to expand into MENA, starting with Saudi Arabia. A pilot is underway, and the company aims to secure a local license for its financing solutions. In the UAE, PostEx has already obtained a license and is preparing for a future launch.

Insights from Leadership

Muhammad Omer Khan, CEO of PostEx, said, “Traditional banks often fail digital entrepreneurs. PostEx provides essential growth capital through our logistics solution.”

Conclusion

PostEx’s recent funding round marks a pivotal moment for the startup as it gears up to broaden its reach across MENA. With a strong foundation and a clear vision for the future, PostEx is set to transform e-commerce financing and support the growth of digital businesses in the region.

Stay tuned for more updates and insights on the latest developments in fintech and logistics. For further details, visit kzaad.com.

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