PostEx, a Pakistani fintech and logistics startup, has announced that it has raised $1.5 million in seed funding from leading institutional investors.
The startup said its initiative was aimed at solving challenges around cash on delivery with instant and upfront payments “by scaling its one-stop shop for financing and logistics solutions for e-commerce platforms”.
The round was led by MSA Capital, an investor in Uber and Klarna among other major tech companies, with participation from the UAE-based Shorooq Partners, Pakistan-focused Zayn Capital, Dubai-headquartered VentureSouq, PNO Ventures, 92Ventures as well as the CEO of Arbisoft, Yasser Bashir.
PostEx says it is working to solve the problems of cash recovery cycles and working capital constraints that hamper businesses’ scaling by providing upfront payment through cash on delivery.
