PostEx, a key player in Pakistan’s fintech industry, announced on Tuesday that it has raised $7.3 million in a pre-Series A funding round. The round was led by Conjunction Capital, a venture capital firm with a focus on technology investments, and included participation from new investors Dash Ventures and Sanabil500, as well as existing investors VSQ, FJ Labs, and Zayn VC.
This infusion of capital is set to strengthen PostEx’s foothold in Pakistan and support its ambitious plans to expand into the Gulf Cooperation Council (GCC) region, where the company aims to introduce its services to new markets.
Despite a challenging period for Pakistan’s startup ecosystem, which saw only $1 million in disclosed funding during the first half of 2024, PostEx’s success in securing significant investment highlights the growing interest in fintech solutions within the country’s e-commerce sector. With this latest round, the total disclosed funding for Pakistani startups in 2024 now stands at $12.8 million.
Founded in 2020, PostEx operates a hybrid model that integrates financial services with logistics. The company provides immediate access to capital for e-commerce businesses, addressing common cash flow issues and enhancing delivery operations, particularly for SMEs. This approach is designed to tackle the challenges faced by e-commerce businesses in a market where traditional financing methods often fall short.
PostEx’s recent achievements include crossing an Annual Recurring Revenue of $21 million, reaching profitability, and processing over four million transactions monthly. The company has maintained its position as a market leader since launching less than three years ago.
Looking ahead, PostEx plans to leverage the recent funding to expand into the GCC region, where it sees substantial growth potential for its integrated fintech and logistics services. Both Pakistan and the GCC are experiencing growth in e-commerce, but there remains a significant gap in financial services tailored to digital entrepreneurs and online businesses.
PostEx CEO and Founder Muhammad Omer Khan emphasized the company’s commitment to providing flexible financing solutions that address the specific needs of e-commerce businesses. Conjunction Capital’s Managing and Founding Partner, Kirill Kozhevnikov, also underscored the importance of the GCC market in PostEx’s growth strategy, noting that the firm’s innovative approach aligns well with the evolving needs of e-commerce in these markets.
Previously, in 2022, PostEx expanded its presence in Pakistan by acquiring Call Courier, a local logistics service provider. Before this latest funding round, PostEx had raised $8.6 million from investors, including Global Founder Capital, MSA Capital, and Shorooq Partners.
