Pakistani Fintech Startup PostEx Raises Additional $7.1m

Pakistani fintech and logistics startup PostEx announced on Monday that it had raised an additional $7.1 million to extend its seed round after raising $1.5 million last month.

The startup has secured a total capital of $8.6 million at seed, making it the second-largest investment at this stage in Pakistan, according to a statement.

Founders Capital (GFC) led the extension round with participation from FJ Labs, which has invested in Alibaba and Ant Financial, Russian venture capital (VC) firm ru-NET, Alma Capital, Zayn Capital, MSA Capital, and Shorooq Partners, and others. 

The startup aims to expand its vertical lending capabilities with the new funds.

“From the beginning, we set out to become the go-to platform for merchants looking to reach their full potential. We have pioneered innovative technology solutions that bridge merchants’ logistics needs with their capital requirements”, the statement quoted by founder Muhammad Omer Khan.

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