Pakistan’s GrocerApp Marks $5.2mn in Series-A Funding
GrocerApp, Pakistan’s online grocery delivery platform, has successfully raised $5.2 million from local and international institutional and angel investors in a Series-A funding round.
GrocerApp, founded by Ahmad Saeed, Hassaan Sadiq, and Rai Bilal in 2016 with an emphasis on customer experience, is digitising grocery purchasing in Pakistan. According to the Household Integrated Economic Survey (HIES) data from the Pakistan Bureau of Statistics, grocery shopping would account for approximately $48 billion in consumer spending in 2019.
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GrocerApp has scaled tremendously in Lahore and rapidly moved to the twin towns of Islamabad and Rawalpindi since securing $1 million in seed finance from prominent institutional and angel investors just seven months prior to receiving the $5.2 million Series-A funding.
GrocerApp reports that between the two rounds, the total number of orders and revenue climbed 300 percent, with yearly sales topping $15 million.
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With 100 million Internet users, Pakistan has attained a critical mass of internet usage. The country boasts one of the world’s fastest smartphone adoption rates, with over 750,000 new data connections every month. GrocerApp is committed to capturing this dynamic new online user base by satisfying their online grocery purchasing demands through a flawless customer experience.
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