Two Pakistani startups, DealCart and NayaPay, have secured spots on Forbes' 'Asia 100 to Watch 2024' list, showcasing the country's growing tech ecosystem. This recognition comes as a result of efforts by the Special Investment Facilitation Council (SIFC) to promote Pakistan's startup scene.
DealCart, which aims to alleviate budget constraints for low to middle-income Pakistani consumers amid rising food prices, has raised $5 million in pre-seed funding. The platform allows users to order fresh produce, detergents, and other essentials while enabling small grocery stores to expand their customer base through online sales. In July, DealCart secured an additional $3 million in seed funding from Abu Dhabi's Shorooq Partners and London's Sturgeon Capital.
NayaPay focuses on digitalizing transactions between businesses and consumers. The startup offers an e-wallet app, virtual debit cards, online payment facilities, and point-of-sale devices for businesses. In 2022, NayaPay raised $13 million in one of South Asia's largest seed rounds, led by Zayn Capital, MSA Novo, and Graph Ventures.
Forbes noted that these startups are leveraging technology to support small businesses and bring significant changes to Pakistan's economy.
