Bykea operates a motorbike-based on-demand platform offering two-wheeler ride-sharing, instant deliveries, offline-to-online commerce and payment services for small businesses. It runs a network of motorbikes serving transport and delivery services for an estimated 40 million citizens in urban Pakistan. The company has seen growth over the past two years across its three operating cities: Karachi, Lahore and Islamabad. Bykea plans to use the new capital to enhance and extend its mobility and fulfillment services for consumers and SMEs, including food and e-commerce deliveries. Management also intends to leverage its fleet for fintech use cases such as cash-on-delivery, cash-pickup and verification services. Led by founder Muneeb Maayr and Executive Chairman Jonas Eichhorst, the company recently raised $10M in funding. Bykea is a four-year-old Pakistan-based startup that leads the country's two-wheeler ride-hailing market and also operates logistics delivery and financial-services businesses. It works with more than 30,000 drivers across Karachi, Rawalpindi and Lahore and supports localized features such as Urdu in its app. The company has partnered with banks to enable bill payments and cash delivery and is looking to further expand its financial-services offerings. Bykea aims to become a 'super app' for Pakistan and plans to deepen market penetration rather than expand regionally for now. Operations largely recovered after COVID-related lockdowns; the company avoided layoffs, cut expenses and built its own mapping system to reduce its prior roughly $60,000/month Google Maps bill to less than a tenth. The fresh capital will support expansion of its network and product ambitions while the company continues to outcompete regional players through localized solutions.

Total raised

$23M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2022