Nepal Digest: Dolma invests in Sastodeal; Emerging Classifieds backs Basobaas

Two Nepalese startups – e-commerce operator Sastodeal and property marketplace Basobaas- have secured funding, according to local media reports.

Nepal PE fund Dolma invests in Sastodeal

E-commerce startup Sastodeal has secured a “significant investment” from Dolma Impact Fund, Nepal’s first international private equity and impact fund, reported Kathmandu Post.

Sastodeal will use the funds to expand its product offerings, hire acquisition and strengthen operations. The startup claims to have grown up to 233 per cent in the previous quarter.

“If Sastodeal can grow at 233 per cent in the last quarter without us, imagine the future with Dolma’s capital and contacts,” said Shabda Gyawali, senior investment manager at Dolma.

Besides Dolma, other key investors active in the country are International Finance Corp (IFC), a member of the World Bank Group, and One to Watch.

Basobaas raises seed funding from Emerging Classifieds Ventures

Property market place Basobaas has raised an undisclosed amount of seed funding from Sydney-based Emerging Classifieds Ventures to scale up its operations

Founded in 2016, the proptech startup claims to be the first and largest real estate classifieds marketplace in Nepal.

Basobaas co-founder and chairman Binit Sharma said: “This funding by Emerging Classifieds Ventures, with their experience in similar markets around the world in Asia, Africa or the Pacific, is a great way for us to leverage from their expertise and move to the next stage.”

Emerging Classifieds Ventures specialises in real estate and automotive marketplaces in early-stage emerging markets including Southeast Asia, Africa and Central America.

Also read:

One to Watch to raise new $20m impact investment fund for Nepal

UK PE fund Dolma Impact commits $3.2m in Nepal hydel project