Rider, a tech-led last mile delivery partner for e-commerce retailers, has raised US$2.3 million in a seed round led by venture capital (VC) firm Global Founders Capital, Fatima Gobi Ventures and Asian Development Bank. TPL E-Ventures and Transhold also participated.
Pakistani e-commerce logistics startup Rider, backed by YCombinator, is looking into acquiring BlueEX the only listed Express Courier Logistics Company in Pakistan, it told Reuters on Thursday.
Salman Allana, the CEO and founder of logistics startup Rider, has said that Pakistan’s startups are marred with a business model that relies heavily on offering discounts for customer acquisition, and this needs a correction.
