Logistics startup Cheetay has raised $1.1 Million in Series A1 round
Cheetay.pk has successfully secured a $1.1 million Series A-1 round. This brings the total capital raised by the venture close to $2 million. Since its launch in 2015, the venture has raised from seasoned investors and venture capitalists based in the US.
The company is led by tech veteran Ahmed Khan, who has spearheaded e-commerce ventures like Daraz.pk, Kaymu.pk, etc. The latest funding round is testament to the confidence Cheetay.pk’s investors have in his ability to lead the company to become a dominant e-commerce player in Pakistan.
Cheetay.pk has exceptionally talented individuals on its board including Shan-Lyn Ma, the CEO and co-founder of e-commerce startup – Zola (New York) aimed at revolutionising Wedding Registry; Lars Leckie, Partner at Hummer Winblad Ventures – one of the oldest Venture Capital firms in Silicon Valley; Yasser Bashir, the CEO and co-founder of Arbisoft, the development hub of innovative software systems; Mohammed Anjarwala, a seasoned private and public markets investor and the Managing Director of Sunley Capital Management (Boston) and Leena Bhutta, a hedge fund investor and former Director of Alternative Investments, Joho Capital (New York).
Cheetay.pk is an e-commerce marketplace which provides people with an instant logistics service by integrating practical payment solutions to make order placement and timely delivery a reality. With their first vertical, they have made a foray in the realm of food delivery, which provides customers with a platform to place their orders from nearly 300 restaurants with Cash on Delivery.
With the help of an interactive Website and Mobile App (iOS & Android) customers can order limitless menu items from the restaurant of their choice from all over Lahore, as well as track their order in real time with a constantly evolving GPS map of Lahore, down to the street and house level. Moreover, with the advent of mobile applications and surging smartphone usage they offer convenience by placing an order with the click of a button through their cutting edge app.
Ahmed Khan the CEO of Cheetay.pk stated, “amongst the clutter it is imperative to be recognised not only for providing quality and timely delivery services but also to fulfil the promises you make to your customers by delivering their orders through efficient riders (delivery staff) who are meticulously trained to facilitate and satisfy the customer.”
Having raised substantial funding, the management at Cheetay.pk has started to actively and vigorously expand into other categories. The board mandate for funding is to build the best in class team of AAA talent, to which end Cheetay.pk has already been enhanced by the joining of Osman Chaudhry (Former Director – Goldman Sachs) as CTO, Moeez Karim (Former Business Unit Manager – Packages) as COO and Zeeshan Ali (Former Head of Marketing – PakWheels) as Head of Marketing.
Ahmed and his team plan to use the acquired funding to not only focus on enabling the infrastructure to provide an excellent experience to the customer but also to increase the brand visibility. They aim to expand operations to other verticals as well as other cities.
Since its inception the company has witnessed rapid expansion in terms of surging daily orders, logistics/delivery capacity along with a growing team of top tier employees. The trajectory of growth and expansion hinges on streamlined tasks/processes, hierarchical structures, competent human resources at hand and having different departments working in unison to holistically achieve the targets and goals set. In order for this to happen Cheetay.pk has expanded and constructed a state of the art office space to accommodate their employees.
For Cheetay.pk, it is vital to constantly work on what the customer touch points are and how the company can give their customers maximum value and convenience. The company plans to continue adding technology and practices in place so that the delivery process is streamlined and the customer is delighted in the end.