Pakistan’s e-commerce platform, PriceOye.pk, has raised $7.9 million in a seed funding round led by US-based JAM Fund, it said in a statement. The round, which marks Paypal founder Peter Thiel’s first investment in the country, will help the startup consolidate its position as the leading electronics marketplace in the country.
Other investors in the round include Beenext, an early investor in Indonesian e-commerce giant Tokopedia; DG Daiwa; Mantis VC; HOF Capital, Jet.com’s investor Palm Drive Capital; and Atlas Ventures. Notable unicorn founders Immad Akhud of Mercury Bank and Asif Keshodia of Souq also participated in the round along with existing investors Fatima Gobi Ventures, SOSV and Artistic Ventures.
