Pakistani fintech and logistics startup PostEx has announced its acquisition of Call Courier, a local logistics service provider, in an attempt to tap into the country’s e-commerce sector, which is projected to grow to $12 billion by 2025.
This transaction combines PostEx’s upfront payments and revenue-based financing to e-commerce sellers with Call Courier’s nationwide logistics infrastructure, according to a statement on Tuesday.
PostEx claims that the acquisition will allow it to expand its logistics services to 1.3 million users and 8,000 merchants, across 500 cities in Pakistan while also maintaining a monthly loan book exceeding $12 million.
The startup has not disclosed the size of the acquisition. “We have raised a round, the details will be out soon,” said Omer Khan, CEO of PostEx to DealStreetAsia.
Backed by leading investors including Zayn, MSA, GFC, RTP, FJ Labs, Shorooq, and VSQ, PostEx had previously raised $8.6 in a seed round in November 2021 — one of the largest for a Pakistani startup.