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Pakistan-based travel booking platform YUGO.pk, incubated at the technology incubator of Punjab Information Technology Board (PITB), Plan 9, has successfully raised an undisclosed amount in its latest fundraise. The seed investment round was led by Angel Investor Syed Sheharyar Ali, Executive Director & CSO at Treet Group of Companies.
Founded in 2017 by Ahmed Hannan Kayani, Ahmad Fazal Bajwa, and Asim Javaid, YUGO.pk, positioned as one of the first online travel websites enabling tourists to create their own customized travel packages for all major foreign destinations in Europe, East Aisa, and MENA. In a seamless user experience, users can also benefit from various cashbacks, discounts, and rewards.
As Pakistan digitizes regional and international investors have been backing more and more Pakistan-based startups offering digital and tech solutions. This reflected remarkably on critical industries in the Pakistani ecosystem, namely FinTech startups raising $32M, and E-commerce startups observing a 176% YoY growth in funding in the first half of the year. Yet, as we anticipate the end of the year, YUGO.pk’s latest round indicates an overall investor appetite for digital solutions in other sectors as well.
The SEED funding will kickstart the Pakistan-based startup’s mission to lead on the tourism market as it anticipates a post-pandemic boom. Angel Investor Syed Sheharyar highlighted “I believe Tourism is going to see a surge in near future especially because many countries are now gradually re-opening to welcome tourists. YUGO.pk has great potential and is guided by the vision to strengthen the local tourism market.”
YUGO.pk plans to utilize its newly acquired funds to further develop its platform offerings and attract more users to its booking engine. In light of this recent investment, Co-Founder Ahmed Hannan concluded “Since its launch, YUGO.pk has helped thousands of tourists book different types of trips from short city breaks to month-long international trips. We’re very thankful to Plan9 for their support and guidance and to Syed Sheharyar Ali for placing his trust in us.”
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