LOKAL raises pre-seed funding from international investors

KARACHI: Pakistani Hospitality startup LOKAL has risen pre-seed funding from international investors to transform budgeted hotel stays & experiences in emerging markets.

Amidst a global fundraising slowdown for startups, one Pakistani startup is blazing a new trail with its revolutionary business model and garnering the attention of international investors, including WahedX’s first-ever investment in a Pakistani startup.

Lokal, a revolutionary hospitality start-up, is on a mission to democratize access to local travel and communities. The company has recently raised pre-seed funding from international investors, which will be used to fuel its growth and expansion plans. Currently, Lokal is focused on expanding its operations within Pakistan, with plans to later expand to other emerging markets in the MENA and Southeast Asia regions.

Khurram Kidwai, former P&G Senior Director and co-founder of Lokal has said that Uber, Airbnb, and WhatsApp are all startups that were born during a recession. While market conditions are challenging today, if you build a business on solid fundamentals, there are tremendous opportunities to grow and disrupt inefficient markets.

Copyright Business Recorder, 2023