Two Pakistani startups, DealCart and NayaPay, have been spotlighted in the prestigious Forbes Asia 100 to Watch 2024 list. This recognition underscores the growing influence of Pakistani startups in the Asia-Pacific region. The Forbes Asia 100 to Watch 2024 list, released on Tuesday, features DealCart, an online grocery platform headquartered in Karachi, and NayaPay, a fintech startup providing a payments processing platform.
DealCart, aimed at Pakistan’s expanding middle class, allows customers to order fresh produce, snacks, and household essentials online. Small grocery stores can also leverage DealCart’s platform to reach a broader customer base. In July 2024, DealCart raised $3 million in seed funding, co-led by Shorooq Partners and Sturgeon Capital, marking a significant milestone for the startup. Just four months after its founding in 2022, DealCart also secured $4.5 million in pre-seed funding.
NayaPay, another standout in the Forbes Asia 100 to Watch 2024 list, is revolutionizing digital transactions in Pakistan. Its platform includes an e-wallet, virtual debit card, and online payments, with additional point-of-sale devices for businesses. In 2022, NayaPay raised $13 million in a seed funding round led by Zayn Capital, MSA Novo, and Graph Ventures.
This year’s Forbes Asia 100 to Watch 2024 list includes companies from 16 countries across 10 industries, with India leading the way with 20 companies. Collectively, these firms have attracted over $2 billion in total investments, even as venture capital funding in the region has slowed. Forbes noted that the companies highlighted represent both steady growth and rapid market traction in sectors like spacetech, biotech, and robotics.
In 2023, five Pakistanis were also featured on Forbes’ ‘30 Under 30 Asia’ list, showcasing the country’s emerging talent across various industries, including finance, enterprise technology, and healthcare.
