PostEx, one of Pakistan’s leading fintech, announced raising $7.3 million in a pre-Series A funding round.
The company said the proceeds will be used for consolidating its market leadership in Pakistan, besides supporting an aggressive expansion into the GCC.
The GCC expansion will enable new markets and customers access to PostEx’s services, the company said.
The latest funding was led by Conjunction Capital, the technology-focused, global venture capital firm.
Other participants included new investors such as Dash Ventures and Sanabil500, besides existing investors VSQ, FJ Labs, and Zayn VC.
CEO and Founder Muhammad Omer Khan said while the GCC and Pakistan have a thriving and fast-growing e-commerce landscape, the reality is that legacy financial institutions don’t fulfil the needs of digital entrepreneurs and online businesses.
E-commerce businesses need access to flexible and affordable funding solutions and our mission at PostEx is to empower online sellers by addressing their most critical challenge: access to the right capital to grow their business through our advanced embedded logistics solution,” he said.
The company utilises an innovative hybrid model of fintech and logistics to provide instant access to capital, removing conventional barriers and challenges of traditional financing methods.
The company said its embedded logistics solution makes e-commerce clients’ delivery operations far more efficient, while mitigating customers’ cash flow issues.
The fund raise follows a very successful 18 months for PostEx, meeting several financial and operational milestones.
The company crossed annual recurring revenue of $21 million, achieved profitability and crossed processing over four million monthly transactions.
PostEx acquired Pakistani logistics service provider, Call Courier, in 2022, expanding its footprint across the entire country.
Prior to its pre-Series A, PostEx had raised $8.6 million from investors including Global Founder Capital, MSA Capital, and Shorooq Partners.
