Participated · Seed · Nov 2019

PriceOye.pk operates an e-commerce marketplace focused on consumer electronics in Pakistan. The platform is described in the article as the country's leading electronics marketplace. The company raised $7.9 million in a seed funding round led by US-based JAM Fund. PayPal founder Peter Thiel participated in the round, marking his first investment in Pakistan. The startup said the fresh capital will be used to consolidate its position as the leading electronics marketplace in the country. The article does not disclose operating metrics or past funding rounds. PriceOye.pk operates an e-commerce platform focused on bringing transparency and trust to online shopping in Pakistan by helping consumers buy certified products at low prices. The company positions itself around customer happiness and says this focus has made it a leading e-commerce platform in the country. PriceOye.pk highlights the problem of counterfeit products in online shopping and markets its service as a remedy. It serves a large addressable market, referencing Pakistan's roughly 210 million consumers and national digital context (about 160 million mobile users, 81 million internet users). The company plans to use newly raised funds to expand market share and continue serving growing consumer needs amid the COVID-19–driven e-commerce surge. Last year the platform announced a seed funding round by Fatima Ventures. PriceOye operates an intelligence platform that helps consumers quickly make purchases at the best possible price from trusted online stores. The company is described as Pakistan’s largest eCommerce aggregator, holding over 73% market share in Pakistan’s eCommerce aggregation space. Founders say the product reduces the need for shoppers to visit multiple sites by consolidating important purchase information. Leadership expresses a broad vision for the product beyond the current features, calling today’s product only 5% of their grand vision. Management intends to expand into additional target markets and ultimately compete internationally. The recent seed financing will be used to grow the business and help more online shoppers save time and money.