Home Press Release Karachi-based Startup, Rider Raises $2.3M in Seed Funding

Karachi-based Startup, Rider Raises $2.3M in Seed Funding

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A day doesn’t go by without Pakistani Startups making it to the headlines! This time the startup Rider raised US$2.3 million in seed funding. The seed funding round was held by Global Founders Capital, Fatima Gobi Ventures, and Asian Development Bank. Transhold and TPL E-Ventures were also part of the seed funding round.

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The startup launched in 2019 by Salman Allana is a B2B2C service and is based in Karachi. Rider has managed to grow exponentially in the past 2 years and covers 80 cities today. It has a huge delivery fleet of 500 delivery agents which has enabled Rider to deliver more than 1.5 million e-commerce parcels all over Pakistan. With its prominent shipper clients as Khaadi and Daraz, Rider has managed to make a prominent place in the market in a short time.

Rider provides a great deal of convenience to its customers through its app-based platforms, live tracking, schedule, route optimization, and an automated warehousing procedure. Moreover, they are offering incentives like 24-hour cash repayment, 1-day lead time, and a high delivery success rate which has made Rider the most preferred delivery partner for national shippers.

Salman Allana, Founder, and CEO of Rider shared his excitement at the seed funding,

“We’re excited about the investors we have onboard – they collectively bring unparalleled logistics industry expertise and emerging markets exposure. Their capital injection will enable Rider’s plans to expand our network and integrate our proven last-mile service into other key parts of the value chain.

He also added,

“Ultimately, we want to build an end-to-end e-commerce logistics solution, complete with e-commerce enablement. Our vision is to be the number one logistics solutions provider for Pakistan’s e-commerce needs”

Rider has also recently launched a Cash Now, Deliver Later product that has enabledd shippers to get payments in advance for their e-commerce sales. To further their efforts, they also have launched a B2B trucking service to further enhance their logistic operations.

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