Aditya Hadi Pratama · · 1 min readPakistani last-mile delivery firm scores $2.3m in seed money
Rider, a Pakistan-based logistics startup, has secured US$2.3 million in a seed round led by Global Founders Capital, Fatima Gobi Ventures, and Asian Development Bank’s venture arm ADB Ventures. Local investors TPL E-Ventures and Transhold also participated in the fundraise.
Rider founder Salman Allana / Photo credit: Rider
The startup was established in 2019 by Salman Allana, a former executive of UPS Pakistan. Rider provides last-mile delivery services for ecommerce transactions, serving more than 80 cities in the country with over 300 delivery agents.
It recently launched “cash now, deliver later,” a service that allows online shop owners to get advanced payments for their sales. The company said that since its inception, it has delivered more than 1.5 million packages with a 93% success rate.
Rider plans to use the fresh funds to integrate its service with other supply chain networks and build its end-to-end logistics solution, which includes ecommerce enablement.
Editing by Miguel Cordon and Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
