DealCart and Nayapay, have caught the world’s attention, earning their place on the Forbes Asia 100 To Watch 2024 list—showcasing the power of innovation from the heart of South Asia.
The Forbes Asia 100 To Watch list is an annual compilation of small companies and startups in the Asia-Pacific region that have caught the attention of investors and industry experts. This year, two Pakistani startups, DealCart and Nayapay, have made it to the coveted list, showcasing their innovative solutions and growth potential.
DealCart: Revolutionizing Online Grocery Shopping in Pakistan
DealCart, founded by Haider Raza, is an online grocery platform that aims to make shopping convenient and accessible to Pakistan’s growing middle class. The platform allows customers to order fresh produce, snacks, detergents, and other essentials, with the option for small grocery stores to sell on the platform and tap into its customer base. Raza’s vision is to streamline grocery shopping, reducing the need for physical store visits and long queues.
DealCart has achieved significant milestones since its inception in 2022. The startup raised $4.5 million in pre-seed funding just four months after its launch, followed by a $3 million seed funding round co-led by Abu Dhabi-based Shorooq Partners and London-based Sturgeon Capital in July 2024. Moreover, this funding has enabled DealCart to expand its operations, enhance its platform, and increase its customer base.
Nayapay: Digitalizing Transactions In Pakistan
Nayapay, founded by Danish Ali Lakhani, is a fintech startup that offers a payments processing platform aimed at digitalizing transactions between consumers and businesses. The Nayapay app supports an e-wallet, virtual debit card, and online payments, making it easy for businesses to accept digital payments. Thus, Lakhani’s goal is to increase financial inclusion, simplify transactions, and reduce the reliance on cash.
Nayapay has also achieved remarkable growth since its inception. The startup raised $13 million in seed funding in 2022, led by Zayn Capital, MSA Novo, and Graph Ventures. Moreover, this funding has enabled Nayapay to expand its operations, enhance its platform, and increase its customer base.
Pakistani Startups On The Rise
The inclusion of DealCart and Nayapay in the Forbes Asia 100 To Watch 2024 list is a testament to their innovative spirit, growth potential, and dedication to solving real-world problems. This recognition places them among the most promising startups in the Asia-Pacific region, alongside companies from 16 countries and territories, operating in various industries. Thus, the achievement of DealCart and Nayapay is a proud moment for Pakistan’s startup ecosystem. Earlier this year, seven Pakistanis made it to the Forbes 30 Under 30 list for Asia, and two Pakistani businesswomen were recognized by Forbes in its ‘100 Most Powerful Businesswomen 2024’ list. This demonstrates the growing talent, innovation, and entrepreneurial spirit in Pakistan.
DealCart and Nayapay’s achievement is a significant milestone for Pakistani startups. Moreover, their innovative solutions, growth potential, and dedication to solving real-world problems have caught the attention of investors and industry experts. As they continue to grow and expand, they will undoubtedly make a significant impact in their respective industries and contribute to Pakistan’s growing startup ecosystem.
Source: Forbes, Tribune, Dawn
