3 min read
Pakistan’s leading online grocery delivery platform, GrocerApp, has successfully raised US$5.2 million in a Series-A round from leading institutional and angel investors.
The round was led by Hayaat Global, with participation from Millville Opportunities Fund New York, MENA-based Wamda Capital, Jabbar internet group & Nama Ventures, China-based Haitou Global, and Pakistan-based LeanBricks and Walled City Co.
Founded in 2016 by Ahmad Saeed, Hassaan Sadiq, and Rai Bilal, GrocerApp is digitizing grocery shopping in Pakistan, focusing on customer experience. Before GrocerApp, the founders were key team members of PakWheels, scaling the company to one of the earliest Pakistani tech ecosystem powerhouses.
The US$5.2 million Series-A funding comes on the back of strong growth numbers for GrocerApp; only seven months after it secured US$1 million in seed funding from leading institutional and angel investors, GrocerApp has scaled exponentially in Lahore and also expanded rapidly to the twin cities of Islamabad and Rawalpindi. Between the two rounds, GrocerApp’s total number of orders and revenue increased 300%, with total annualized revenue exceeding the US$15 million mark.
Talking about the investment, GrocerApp CEO Ahmad Saeed said, “We owe our success to the vigorous efforts of our brilliant team enabling us to rapidly scale in such a short span of time, while maintaining sustainable and healthy unit economics. We are thrilled to have experienced investors as partners helping us not just with capital, but their operational and domain expertise, making GrocerApp a leading e-commerce platform in Pakistan. With the new funding round, we plan to quickly expand our offerings to strategic cities in Pakistan as well as expanding new business initiatives in the online grocery retail segment.”
Asif Keshodia, GrocerApp’s director, said: “We’ve created a seamless infrastructure to receive orders, begin fulfilment, and complete delivery. GrocerApp has grown 3x in a matter of months – a testament to the fact that we’re gratifying thousands of customers every day. We believe it has the potential to be the largest retail company in Pakistan which is why we’re committed to pushing our innovations even further.”
GrocerApp is a low-price online supermarket that allows you to order products across categories like grocery, vegetables, beauty & wellness, household care, baby care, pet care, meats & seafood, and get them delivered to your doorstep. It has made online shopping easier and more convenient than ever. Order online all your favorite products from the low price online supermarket for grocery home delivery in Pakistan with the best experience guaranteed.
