• Bykea

  Participated · Equity · Jun 2022

  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.

• Scalapay

  Participated · Seed · Jan 2021

  Founded in 2019, Scalapay has grown into one of Southern Europe’s leading buy-now-pay-later (BNPL) providers. Its platform allows more than 10.2 million users to purchase items online or in-store and pay in three or four fee-free installments, driving higher conversion and average order value for over 10,000 merchant partners such as Mango, Backmarket, Eminza and Lastminute. Having achieved unicorn status, the company is now focused on enriching its payment products and simplifying the customer journey. The newly secured funding will enable Scalapay to accelerate product development and consolidate its European position in smart financial services. Management stresses technological innovation, security and service quality as core differentiators. By using non-dilutive growth debt, Scalapay can scale without reducing founders’ or existing investors’ equity stakes. The company ultimately aims to expand both its geographic reach and its portfolio of interactive payment solutions.

No current team members are available.