Jenina Ibañez · · 1 min readSOSV leads Pakistani retail startup’s $6m pre-series A round
Pakistan-based 24Seven, an ecommerce and retail startup, has raised US$6 million in a pre-series A round led by global venture capital firm SOSV.
24Seven’s ApniDukan team / Photo credit: 24Seven
Founded in 2016, the company first started as direct-to-consumer grocery store 24seven.pk. Since early last year, 24Seven has been transforming mom and pop stores into resellers.
The company, through its ApniDukan rebranding service, introduces digital technology, fintech services, and visual merchandising in the stores.
It has 2,500 resellers across six cities, who all have access to delivery, digital inventory, digitized ordering, retail credit, and shop branding services.
“It made so much sense for us to partner with and empower these microentrepreneurs,” said Jarrar Shah, co-founder and CEO of 24Seven. “With this funding round, we plan on continuing to scale our agent network aggressively and launch several exciting new products in the weeks and months ahead.”
See also: Hong Kong VC Betatron’s new fund hits hits first close at $15m
Other investors who participated in the round include:
- Betatron Venture Group
- Newlin VC
- Verity Capital
- Argo’s Quest
- Various family offices
- Kuda Bank founder Babs Ogundeyi
- Former Softbank managing partner Murtaza Ahmed
Editing by Miguel Cordon and Lorenzo Kyle Subido
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