A fintech business called PostEx has raised $7.3 million in its pre-series A funding round. This is an important stage for startups like PostEx that want to hit major milestones and accelerate growth before moving on to a larger Series A investment.
Before the series For entrepreneurs, funding is a vital source of capital that helps them perfect their products, get their foothold in the market, and hit important milestones that open doors to more funding rounds.
In an official release, PostEx stated that the recently obtained funds will play a crucial role in securing the company’s market leadership in Pakistan and propelling an ambitious expansion throughout the Gulf Cooperation Council (GCC). By making this change, PostEx will be able to provide its cutting-edge services to clients and markets throughout the GCC.
Conjunction Capital, a worldwide venture capital firm that specializes in technology-driven ventures, led the funding round. VSQ, FJ Labs, Sanabil500, Dash Ventures, and Zayn VC were among the other prominent investors.
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PostEx provides companies with immediate access to financing through a novel hybrid business model that blends fintech and logistics. This strategy successfully removes the customary obstacles and difficulties connected to typical funding techniques.
Even with Pakistan’s $6 billion e-commerce industry, online sales make up only 1% to 2% of all retail sales, a far cry from the 15% global average. This emphasizes how crucial PostEx’s mission is to the area.
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The latest fundraising round for PostEx comes after a very successful eighteen months in which the business hit many operational and financial benchmarks, including an amazing $21 million in recurring revenue annually.
The CEO of PostEx, Muhammad Omer Khan, highlighted the difficulties that Pakistani and GCC digital entrepreneurs and internet companies confront as a result of outmoded financial institutions. He reaffirmed PostEx’s dedication to enabling online merchants by giving them access to the money they need to support their expansion.
Conjunction Capital’s managing and founding partner, Kirill Kozhevnikov, reaffirmed the company’s faith in PostEx while emphasizing the strategic importance of the Saudi Arabian market as a vital region for GCC expansion.
About PostEx
PostEx is a receivables factoring and courier service that pays E-commerce merchants offering Cash on Delivery invoice values upfront.
