Miguel Cordon · · 1 min readPakistani fintech firm PostEx acquires local logistics startup
PostEx, a Pakistan-based fintech startup, has acquired local logistics provider Call Courier – a deal which the former said makes it the largest ecommerce service in its home country.
Photo credit: PostEx
After the acquisition, PostEx will offer its services to over 8,000 merchants across 500 cities in Pakistan, which serve a total of 1.3 million users. The company also said it’s on track to record a monthly loan book of US$12 million.
Financial details of the deal were kept under wraps.
Call Courier will be a wholly owned subsidiary of PostEx as part of the deal. The latter also welcomed
Jawad Mirza, founder and CEO of Call Courier, to its board of directors. He will continue leading the logistics business.
Founded in 2020 by Omer Khan, Saad Mahmood, Babar Razzaq, and Adil Naseem, PostEx offers fintech services to ecommerce platforms, supporting cash on delivery and online payment options. The company’s dashboard also gives its clients insight and access to 24/7 customer care.
See also: Fintech a bright spot in Pakistan’s breakout year
The acquisition follows PostEx closing a US$8.6 million seed round late last year that was backed by MSA Capital, VentureSouq, Zayn Capital, and Global Founders Capital, among others.
Editing by Lorenzo Kyle Subido
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