PostEx, Pakistan’s leading fintech acquires Call Courier and becomes the largest provider of e-commerce services
Lahore, Pakistan –News Live– PostEx
Pakistan’s e-commerce sector is set to reach $12 billion by 2025 as adoption and growth scale. To drive this growth, PostEx, Pakistan’s leading fintech, today announces that it has completed the acquisition of Call Courier, a logistics services provider; to expand its logistics offering and make it the largest e-commerce provider in the country. This transaction brings together PostEx’s advance payments, revenue-based financing and technology with Call Courier’s nationwide logistics infrastructure.
Following the transaction, PostEx will now serve 1.3 million users with over 8,000 merchants in 500 cities in Pakistan, on track to become the largest fintech in Pakistan with a monthly loan book of $12 million.
PostEx becomes the first company in the region to offer invoicing and logistics services for receivables that pay invoice values in advance to e-commerce companies; helping e-commerce sellers and SMEs to thrive, grow and take full advantage of all opportunities that arise. PostEx, backed by leading investors that include Zayn, MSA, GFC, RTP, FJ Labs, Shorooq, VSQ and others has raised $8.6 seed round – one of the largest for a Pakistani startup.
Call Courier will be a wholly owned subsidiary under the group name. PostEx welcomes Jawad Mirza, founder and CEO of Call Courier to its board, who will continue to play an integral role in the business while leading the logistics business.
Omer Khan, founder and CEO of PostEx commented: “Banks just don’t lend enough to businesses, which is why so many of them struggle to maintain their working capital in the face of insufficient cash flows. Cash on delivery, while a problem for such businesses, is largely a reality in the Pakistani ecosystem and is not going away anytime soon.
The concept behind PostEx was to facilitate all players in the e-commerce sector who are struggling to operate and expand in light of the restrictions around access to capital and inefficiencies in logistics. The acquisition of Call Courier enables us to increase our reach and benefit from the great business and team Jawad Mirza has been able to grow over the years.”
Call Courier’s strong presence in Pakistan complements PostEx’s vision and nationwide footprint. This strategic decision brings PostEx’s total presence to over 500 cities; serving up to 1.3 million people monthly across Pakistan as the transaction enables both companies to leverage each other’s technological and operational expertise.
Jawad Mirza, Founder and CEO of Call Courier commented: “Having more than 2 decades of experience in the logistics and delivery industry has given us an understanding of not only bulk mail, but also e-commerce, mail collection and the needs of the sector. With this acquisition, it is time for us to enter in new horizons, accept new challenges and continue to grow. Voice messenger network together with PostEx’s fintech capabilities will enable us to provide quality deliveries across Pakistan along with financial support to the sector. It gives me immense pleasure to serve existing and new customers and offer a one-stop solution for their needs.”
Over 90% of e-commerce transactions are completed in cash, representing nearly $6.5 billion. The majority of consumers shopping online in Pakistan pay using the COD payment method and payment cycles for such orders vary from one week to one month, creating cash flow problems for online sellers. PostEx solves these challenges with its fintech and logistics platform. In addition to cash on delivery, PostEx also offers income-based financing to provide easy access to capital, making it the first and last source of non-dilutive financing for e-commerce.
Senator Dr. Afnan Ullah Khan, Member of Prime Minister’s IT Task Force committee commented: “Consolidation and growth together is important at this time for our nascent ecosystem. This acquisition demonstrates the importance of a close collaboration between fintech and logistics highlighting the importance of access to capital. This acquisition makes PostEx the largest provider of e-commerce services in market, shows the potential of startups to challenge established companies. It’s refreshing to see new solutions to old problems.”
AUC Law, Salahuddin, Saif & Aslam Co. and MHBWHB Law Associates were the legal advisors on the transaction.
About PostEx
Founded in 2020, PostEx is a hybrid of receivables factoring solution and courier service that pays invoice values in advance to e-commerce companies that offer cash on delivery as one of their payment methods. PostEx also offers free delivery services to its customers. For more information, visit https://www.postex.pk/
Contact information
PostEx
Bilal Mahmood
+44 7714 007257
the company’s website
https://www.postex.pk/
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