Rider is a last-mile delivery service. Global Founders Capital, Fatima Gobi Ventures, and the Asian Development Bank led a US$2.3 million seed fundraising round to help Pakistan’s logistics and e-commerce businesses flourish.
Rider, a tech-driven last-mile delivery service for e-commerce businesses, has raised US$2.3 million in a seed round led by Global Founders Capital, Fatima Gobi Ventures, and the Asian Development Bank. Transhold and TPL E-Ventures were also present.
● Rider closed a US$2.3 million seed round led by Global Founders Capital, Fatima Gobi Ventures and Asian Development Bank. Local investors TPL E-Ventures and Transhold also participated in the round.
● Led by Salman Allana, Founder and CEO, Rider serves over 80 cities across Pakistan, with shipper clients including Pakistan’s top online retailers.
● Since 2019, Rider’s 500-strong fleet has made 1.5 million e-commerce deliveries across Pakistan with a market-leading success rate of 93%.
● The funding will fuel Rider’s network expansion and integration of its last-mile service into other key parts of the value chain, towards building an end-to-end logistics solution, complete with e-commerce enablement.
The Karachi-based B2B2C service was launched in 2019 by Salman Allana, who was previously head of strategy and business development at UPS Pakistan and assistant vice president at Citi Bank.
Today, Rider boasts coverage in over 80 cities across Pakistan, with shipper clients including Pakistan’s top five online retailers such as Khaadi and Daraz. The startup’s 500-strong delivery agent fleet — which is easily scalable at peak times — has thus far delivered more than 1.5 million e-commerce parcels across Pakistan with a market-leading success rate of 93%.
Rider’s exponential growth in just two years is thanks to its ability to weave global best practice technology and process innovation into its delivery cycles, building real time connectivity between its shippers, delivery agents and customers.
Today, Rider’s app-based platforms, route optimisation, live tracking, live scheduling, and highly automated warehousing puts the logistics tech startup at the forefront of Pakistan’s burgeoning last mile delivery space.
Salman Allana, Founder and CEO of Rider, said:
“We’re excited about the investors we have on board – they collectively bring unparalleled logistics industry expertise and emerging markets exposure. Their capital injection will enable Rider’s plans to expand our network and integrate our proven last-mile service into other key parts of the value chain.
“Ultimately, we want to build an end-to-end e-commerce logistics solution, complete with e-commerce enablement. Our vision is to be the number one logistics solutions provider for Pakistan’s e-commerce needs,” he said.