Disruption takes years. It takes persistence, resilience and undeterred belief in the larger vision of the startup. It requires bravery. After laying the foundation during the past decade, Pakistan’s startup ecosystem is taking its first steps in that direction.

Vitol-backed VavaCars announces the closure of its activities in Pakistan

VavaCars, sponsored by Dutch energy and commodity trading corporation Vitol, claimed it had ceased operations in Pakistan just over eight months after it disclosed obtaining $50 million. The online trading platform had previously stated that it will utilise the money raised to expand its operations in Pakistan and Turkey. The development on Thursday follows that statement.