DealCart raises $3 million in a Seed funding round led by Shorooq Partners and Sturgeon Capital to empower Pakistan's digitally savvy consumers amid rising inflation.

Jul 04, 2024•about 1 year ago

Amount Raised

$3 Million

Round Type

seed

KarachiGroceryE Commerce

Investors

Khyber Venture PartnersRayn CapitalEvolution Vc500 GlobalSturgeon CapitalShorooq Partners

Description

DealCart, a social e-commerce startup focused on providing affordable essential goods to low- and middle-income consumers across Pakistan, successfully raised $3 million Seed. The round also saw participation from 500 Global, Evolution VC, Rayn Capital, and Khyber Venture Partners. This capital infusion will support DealCart’s mission to expand its reach and provide affordable essential goods to Pakistani consumers amidst the significant financial strain caused by the rising inflation.

Company Information

Company

DealCart

Location

Karachi, Sindh, Pakistan

About

DealCart is a social commerce startup on a mission to provide affordable daily essential products to underserved communities in Pakistan through a gamified and interactive platform. Founded by Ammar Naveed and Haider Raza, DealCart helps users unlock more value by enabling communities to "buy together and save together," sourcing products directly from manufacturers and collaborating with locally manufactured brands. DealCart offers significantly lower prices through group buying, which can be facilitated via WhatsApp and other social media platforms. This innovative approach focuses on consumers who spend much of their income on groceries and essentials, helping them save more and invest in a better lifestyle and future.

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Funding Insights

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