Rider, a logistics startup based in Karachi, raised $2.3 million in Seed funding from Global Founders Capital, Fatima Gobi Ventures, TPL E-Ventures, Transhold, and Asian Development Bank.
Elevator Pitch: Last-mile delivery service for online retailers.
Make me care: Pakistan’s retail market is estimated to be worth $55 billion. A small but rapidly growing portion of Pakistan’s overall retail market is eCommerce, which makes up about 2% of all retail sales.
Since eCommerce requires dependable delivery partners and fast delivery times, robust logistics are essential. However, the logistics sector is highly fragmented and inefficient despite being a key engine for eCommerce growth.
Rider claims to offer a robust end-to-end experience, eliminating the inefficiencies of bigger logistics companies.
You should know: Salman Allana founded Rider in 2019. In his previous life, he served as Head of Strategy at UPS Pakistan.
Currently, the startup has over 500 drivers with coverage across 80 cities in Pakistan. It claims to have delivered 1.5 million online orders with a 93% success rate. Khaadi and Daraz are among their clients.
What they’re saying: “Our operations identify and solve the underlying causes behind the delivery stats. Rider’s in-house delivery agent behavioral analysis and geo-tagging processes help eradicate fake delivery attempts.” says CEO Salman Allana.
Before you go: The logistics space is heating up. PostEx recently raised $1.5 million in seed funding. Also competing against Rider are Trax and Swyft.