Webx, a Karachi-based SaaS e-commerce start-up, raised an undisclosed amount in seed funding from Al-Hilal Securities Advisors.
Elevator Pitch: One powerful and simple platform to sell your products.
Tell me more: Online shopping has seen remarkable growth over the past few years, especially during the pandemic.
According to the State Bank, e-commerce transactions increased by 115% in 2021, and monetary values increased by 74%.
Having an online store is essential for retailers and businesses to ensure revenue growth.
But building an online store can be an expensive and time-consuming task. You have to go through a rigorous process of selecting a domain name, picking an e-commerce website builder, designing the online store, etc.
That is where Webx comes into play.
It is a one-stop solution for e-commerce that lets retailers set up their stores and start selling online within minutes.
It takes care of the payment and delivery channels by automatically connecting the stores with payment providers and logistics services.
Webx also offers marketing tools to promote a business and increase sales within budget.
You should know: Webx was launched in 2018 by Waleed Masood and Fraz Saleem.
The startup claims to have a gross merchandise value of over Rs. 1 billion and a steady 50% yearly growth.
Zoom Out: Webx plans to expand its services across Pakistan and also at a global level.
The e-commerce industry in Pakistan has seen phenomenal growth, with e-commerce startups raking in $203+ million in funding. This provides Webx with ample growth opportunities as more and more retail businesses join the ecosystem.