TPL Group's Rider raises $2.3 million in seed funding round
Summary
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. The logistics market, a key cog that supports Pakistan’s e-commerce growth, is incredibly fragmented, with traditional players and second or third generation startups competing for a share of the high-volume, operationally- driven industry. FGV’s strong combination of Fatima Ventures’ local expertise and Gobi Partners’ regional know-how has helped the VC spot first movers and get ahead of key trends. With so many customer-centric and problem-solving solutions on the horizon, we cannot wait to see how far Rider’s tech offerings will go in supporting Pakistan’s e-commerce growth ambitions.” Global Founders Capital invests in startups that disrupt existing markets or create new ones. Jay Lim, Venture Partner at Global Founders Capital, said: “GFC believes that Pakistan’s startup scene is primed to grow rapidly in the next few years, especially within the commerce the space.
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