Pakistan-based ezWIFI raises Pre-Seed funding to expand its internet disruption and connect the next billion!
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Pakistan-based Tech startup ezWIFI last week announced it has successfully raised an undisclosed 6-figure amount in its latest funding round. The Pre-Seed round was led by Iffi Wahla from E42 Ventures (US) with additional investments from angels like Naeem Zamindar (PK).
Based in Islamabad, ezWiFi has set forth to build the sharing economy for WiFi by enabling brick-and-mortar stores to make money by offering their customers Free WiFi. Despite being a young startup, in a short time, ezWiFi has signed up and is providing Free WiFi at more than 100 restaurants across the country including international brands like The Coffee Bean & Tea Leaf and Second Cup. ezWiFi has also partnered with Unilever, L’Oreal, and Jazz to provide its services at supermarkets, events, and public areas.
With the release of our much-anticipated State of Startup Funding-Emerging Venture Markets 2022 available for free download, the data reflects the exceptional growth of the Pakistani VC ecosystem as a rising star amongst entrepreneurial spaces. After a 3-year consecutive growth in total deals closed, a 63% growth in transactions in 2021 boasted a new record-high of capital deployed in the country crossing the $300M mark. A look at Pakistan’s top 5 funding rounds of the year, Pakistan’s digital adoption has been attracting global and regional backers with sizable investments in E-commerce including B2B Tajir Pakistan and Bazaar, T&L with Pakistan’s largest funding round to date Airlift, and FinTech payment and crediting solutions with CreditBook and Tag.
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Along with the ability to make money from WiFi, ezWiFi offers businesses a mobile and web application where they can view analytics, run promotions, build customer lists, collect feedback and manage multiple locations. Sher Ali Khan, ezWiFi’s Founder and CEO commented, “ezWiFi is a purpose-driven company. We are on a mission to connect the next billion and this funding round is an important milestone in our journey. With it, we have the resources to turbo-charge our growth and build a superstar team.“
Naeem Zamindar, angel investor and Managing Partner at Neem Exponential remarked, “I love Sher's vision and how he has created a business model and technology platform that has the potential to enable a billion users with access to the Internet but also enable restaurants, retailers, etc. to digitalize their businesses, marketing, and finances over time.“
ezWiFi is aggressively scaling up operations in Pakistan and hiring for multiple positions in the company. After capturing the Pakistani market, the startup plans to expand into other markets in Africa, South Asia, and GCC. Iffi Wahla, Managing Partner at E42 Ventures said, “We are looking to build our presence in Pakistan as we see tremendous potential in what is still a nascent startup ecosystem. ezWiFi has us excited because it offers an opportunity to connect the masses to high-speed Internet while providing value to businesses. With the right investment, not just capital, but with people and infrastructure, we believe ezWiFi has the capability to not only capture the local market but go global and E42 is delighted to be a part of the process.”
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