ANL 29.55 Decreased By ▼ -0.25 (-0.84%)
ASC 19.98 Decreased By ▼ -0.42 (-2.06%)
ASL 24.40 Increased By ▲ 0.80 (3.39%)
BOP 8.26 No Change ▼ 0.00 (0%)
BYCO 10.04 Increased By ▲ 0.16 (1.62%)
FCCL 21.95 Increased By ▲ 0.10 (0.46%)
FFBL 27.00 Increased By ▲ 0.09 (0.33%)
FFL 19.33 Decreased By ▼ -0.67 (-3.35%)
FNEL 8.42 Decreased By ▼ -0.32 (-3.66%)
GGGL 25.16 Decreased By ▼ -1.24 (-4.7%)
GGL 43.60 Decreased By ▼ -2.44 (-5.3%)
HUMNL 6.92 Decreased By ▼ -0.13 (-1.84%)
JSCL 21.50 Decreased By ▼ -0.12 (-0.56%)
KAPCO 39.00 Increased By ▲ 0.30 (0.78%)
KEL 3.83 Decreased By ▼ -0.07 (-1.79%)
MDTL 3.52 Decreased By ▼ -0.04 (-1.12%)
MLCF 43.50 No Change ▼ 0.00 (0%)
NETSOL 157.00 Decreased By ▼ -1.50 (-0.95%)
PACE 7.20 Decreased By ▼ -0.25 (-3.36%)
PAEL 33.28 Decreased By ▼ -0.37 (-1.1%)
PIBTL 10.95 Decreased By ▼ -0.05 (-0.45%)
POWER 9.06 Decreased By ▼ -0.14 (-1.52%)
PRL 23.10 Increased By ▲ 0.10 (0.43%)
PTC 11.88 Increased By ▲ 0.28 (2.41%)
SILK 1.72 Decreased By ▼ -0.11 (-6.01%)
SNGP 50.74 Increased By ▲ 0.94 (1.89%)
TELE 15.17 Increased By ▲ 0.37 (2.5%)
TRG 160.25 Increased By ▲ 0.80 (0.5%)
UNITY 40.55 Increased By ▲ 0.10 (0.25%)
WTL 3.43 Decreased By ▼ -0.16 (-4.46%)
BR100 5,093 Decreased By ▼ -3.1 (-0.06%)
BR30 25,710 Decreased By ▼ -44.74 (-0.17%)
KSE100 47,312 Decreased By ▼ -5.7 (-0.01%)
KSE30 18,963 Decreased By ▼ -10.86 (-0.06%)

Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
23,209
7624hr
Pakistan Cases
1,020,324
4,49724hr
7.53% positivity
Sindh
374,434
Punjab
354,904
Balochistan
30,019
Islamabad
86,602
KPK
142,799
Business & Finance

Pakistan’s GrocerApp raises $5.2 million in Series A round

  • Plans on using investment to boost current operations and expand to Karachi
14 Jun 2021
Source: GrocerApp
Source: GrocerApp

Pakistan’s e-grocery startup, GrocerApp, has raised $5.2 million in a Series A round led by Hayaat Global, it was announced on Monday.

Wamda, Millville Opportunities Fund New York, Saudi-based Nama Ventures, Jabbar Internet Group, China-based Haitou Global, Pakistan-based LeanBricks, Walled City Capital and several other angel investors also participated in this round.

GrocerApp was founded by Ahmad Saeed, Hassaan Sadiq, and Rai Bilal in 2016 to revolutionise grocery shopping in Pakistan. The startup’s online platform allows households in Pakistan to order their groceries through their web and mobile apps.

After launching its services in Lahore, the e-grocery startup expanded its operations to Islamabad and Rawalpindi last year, followed by Faisalabad . GrocerApp plans on using this investment to boost its current operations and also penetrate the Karachi market.

As the startup scales , it said that its annualised revenue has exceeded the $15-million mark.

“We are thrilled to have experienced investors as partners helping us not just with capital, but their operational and domain expertise," said GrocerApp CEO Ahmad Saeed. "With the new funding round, we plan to quickly expand our offerings to strategic cities as well as expanding new business initiatives in the online grocery retail segment,” he said in a press release.

Increasing mobile penetration and internet adoption in Pakistan has opened up new opportunities for startups. Moreover, online shopping and e-commerce have also grown due to Covid-19 that has made it difficult for consumers to access household essentials due to frequent lockdowns.