Lahore-headquartered, FinTech and LogiTech hybrid startup PostEx has raised a six-figure (USD) pre-seed round from strategic angel investor Farhan Abbas Sheikh, it announced in a statement today.
Founded in 2020 by Omer Khan and Saad Mahmood, PostEx is a hybrid of receivables factoring solution and courier service that pays invoice values upfront to e-commerce companies offering Cash on Delivery as one of their modes of payment. PostEx is also offering free of charge delivery service to its clients.
Omer Khan, the founder & CEO of PostEx, said, “One of the biggest challenges the e-commerce industry faces is Cash on Delivery due to delayed payments and uncertainty about the cash flows. Lack of access to cash and inefficiencies of last mile have hampered the growth of small & medium sized e-commerce companies. By modernizing the pervasive and conventional financing and logistics standards, we are helping our clients to meet all their financing and logistical needs under one roof in an efficient and cost-effective way.”
Investor, Farhan Abbas said, “We are trying to digitalize the payments by providing the much-needed solution of bridging the gap between the sellers and buyers. PostEx brings myriad opportunities as a platform to offer extensive solutions for efficient use of cash flows for the e-commerce sector.”
Commenting on how they plan to use the investment, Omer Khan explained that a part of it will be used to grow its team, add more services for e-commerce stores to help them grow in a tough economy and expand further into major cities of Pakistan.
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