Islamic Finance

Pakistan’s GrocerApp raises $5.2 mln to expand into more cities

Pakistan-based GrocerApp raised $5.2 million in a Series A round that it says it will use to expand into more cities and start “new business initiatives”.

The latest funding round was led by Hayaat Global with participation from Millville Opportunities Fund New York, Wamda, Dubai's Jabbar Internet Group, Saudi-based Nama Ventures, China-based Haitou Global, and Pakistan-based LeanBricks and Walled City Capital, as well as several angel investors, GrocerApp said in a statement on Monday (June 14).

The start-up, that operates primarily in Lahore, Islamabad and Rawalpindi, raised $1 million in seed funding only seven months ago.

“Between the two rounds, GrocerApp’s total number of orders and revenue increased 300%, with total annualised revenue exceeding the $15 million mark,” said the start-up.

GrocerApp was founded in 2016 by Ahmad Saeed, Hassaan Sadiq and Rai Bilal, who were previously key team members of automobile website PakWheels, scaling the company to one of the earliest tech ecosystem powerhouses.


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