Pakistan’s transport and events e-ticketing platform Bookme has raised an undisclosed sum in a pre-Series A funding round led by local asset management firm Lakson Investments Venture Capital (LIVC), according to an announcement.
Bookme will use the funding raised to consolidate its market share in the bus, cinema and events e-ticketing segments in one of the fastest growing e-commerce markets in the world, it said in a statement.
Bookme partners with bus operators, cinema houses and event organizers to digitize their seat maps, ticketing and cash collections through its mobile apps and web-based platform.
As part of the investment, LIVC managing partner Faisal Aftab, Lakson Investments CEO Babar Lakhani, and Khurram Samad will join Bookme’s board.
“The capital raise will accelerate our scaling across Pakistan and facilitate the enhancement of our platform as a trusted market leader by customers, operators and payment partners. We’re excited to get LIVC’s investment in the largest e-ticketing funding round in Pakistan,” said Bookme founder and CEO Faizan Aslam.
Bookme said it also expects its commuter bus segment to grow due to the upcoming infrastructure investments through the China-Pakistan Economic Corridor.
LIVC is a technology-focused pre-Series A venture capital fund regulated by the Securities & Exchange Commission of Pakistan (SECP). It is one of the largest private sector asset managers in Pakistan with over $300 million under management.
“We anticipate that digital payment systems and smartphone adoption will be the underlying drivers of technology growth in the next 5 years. Bookme’s growth trajectory is well positioned to mimic the digital adoption curve in Pakistan due to its well-seeded platform and lead in API integrations with payments systems”, said Aftab of LIVC.