SHOCKING: Pakistani Startup PostEx Reveals Plans to Conquer Saudi Arabia and UAE Markets
Pakistani fintech sensation PostEx, known for disrupting the e-commerce landscape with its innovative financial and logistics services, is now gearing up to take on the lucrative Middle Eastern markets. TechCrunch has learned exclusively that the startup is poised to enter Saudi Arabia this year, with its sights set on the United Arab Emirates next.
"We’re going to disrupt them, because we see the gap," boasted Muhammad Omer Khan, founder and CEO of PostEx. The Pakistani entrepreneur has built a reputation for his bold approach, and this move is no exception.
The market is ripe for disruption, with cash-on-delivery transactions accounting for a staggering 95% of online payments in Pakistan. PostEx has revolutionized the industry by offering merchants upfront payments and a logistics service, helping to ease working capital issues.
But the company’s true genius lies in its financial wizardry. By controlling the flow of funds, PostEx is able to collect cash directly from consumers, ensuring prompt repayment and minimizing risk. This strategy has yielded impressive results, with non-performing loans remaining a paltry 0.03% since inception.
The startup’s acquisition of rival Call Courier in 2022 marked a major milestone, allowing PostEx to expand its logistics footprint across Pakistan and capitalize on the growing demand for e-commerce services.
But PostEx is far from resting on its laurels. With a $7.3 million funding injection from Conjunction Capital, the startup is poised to enter Saudi Arabia, with plans to raise an additional $15 million to fuel further growth.
"The Middle East is a natural extension of our growth strategy," Khan enthused. "We’re testing our platform in the UAE and have a license for financing. We’ll launch there after cracking the Saudi Arabian market."
While some may view PostEx’s aggressive expansion plans as bold or even reckless, one thing is certain – the startup is poised to make a significant impact in the Middle Eastern markets.
But what does this mean for local players? Will they be able to keep up with PostEx’s lightning-fast expansion, or will the Pakistani fintech giant simply leave them in the dust?
One thing is certain – the game has changed, and the Middle Eastern e-commerce landscape will never be the same again.
