Two Pakistani startups secure spots on Forbes ‘Asia 100 to Watch 2024’ list

KARACHI: Two Pakistani startups, DealCart and NayaPay, have been included by the Forbes as part of its prestigious ‘Asia 100 to Watch 2024’ list, Dawn news reported.

DealCart, based in Karachi, operates an online grocery platform catering to Pakistan’s expanding middle class. The startup, which has secured $4.5 million in pre-seed funding, allows customers to purchase a variety of products, including fresh produce, snacks, and household essentials.

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The platform also enables small grocery stores to reach a wider customer base. In July, DealCart successfully raised $3 million in a seed funding round, led by Shorooq Partners from Abu Dhabi and Sturgeon Capital from London.

NayaPay is a fintech company, providing a comprehensive payments processing solution. Its app offers features such as an e-wallet, virtual debit card, and online payment services, along with point-of-sale devices for businesses. NayaPay, raised $13 million in 2022 in one of South Asia’s largest seed funding rounds, is led by Zayn Capital, MSA Novo, and Graph Ventures.

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This recognition follows earlier accolades for Pakistani entrepreneurial talent, including seven individuals featured in Forbes’ 30 Under 30 list for Asia earlier this year and two Pakistani businesswomen who were named in Forbes’ ‘100 Most Powerful Businesswomen 2024’ list in March.