H&O Services, a startup from the recently graduated second batch at LUMS Center for Entrepreneurship has closed its seed stage funding.
Home & Office Services is blue collar worker’s placement and management company. H&O provides police verified workers, solving the pain which exists in Pakistani blue collar market regarding joblessness, unreliability and security. Team H&O aims to use innovative technology to bringing new kinds of services which previously were not being offered in blue collar services locally.
Although the exact terms of the deal have not been disclosed, it has been confirmed that the funding values the company at six figures in US dollar terms in a straight equity deal.
“This funding has come at a very crucial time,” says Muddasar Sharif, Founder and CEO of the company and a recent graduate from LUMS. “H&O Services has created quite a stir in the local market since its inception and we really needed the investment to expand our operations. With a lot of demand from both the workers and the employers, we didn’t have the resources to match the expectations. But now, not only will we be arranging more registration drives to recruit more workers, but we’ll also be investing the money into trainings for the workers so that they can do their jobs with more efficiency and increase output.”
The investors (Hamza Irfan Baig and Ali Baig), who currently reside in Riadh, Saudia Arabia and are from a Pakistani background and have high hopes from the H&O team. “It is a great pleasure to invest and be part of H&O services. The times have changed and investors have started to put their trust in Pakistani start ups. Our aim is to promote and support Pakistani start-ups. We will set an example for the local and foreign investors to invest in Pakistani start-ups as they have a huge potential. We have full faith in the founder, Muddasar Sharif and his team. They are doing a remarkable work and we are sure that they will exceed our expectations.”