PostEx, a fintech and logistics startup catering to e-commerce merchants, has secured $7.3M in pre-Series A funding, led by Conjunction Capital. Other participation came from Dash Ventures, Sanabil500, and existing investors VSQ, FJ Labs, and Zayn VC.
Founded in 2020 by Muhammad Omer Khan, the startup focuses on providing instant access to capital for online businesses while also offering an embedded logistics solution. Before this round, PostEx had raised $8.6 million from investors including Global Founder Capital, MSA Capital, and Shorooq Partners. It had also expanded its footprint across Pakistan through the acquisition of logistics service provider Call Courier in 2022.
“E-commerce businesses need access to flexible and affordable funding solutions and our mission at PostEx is to empower online sellers by addressing their most critical challenge: access to the right capital to grow their business through our advanced embedded logistics solution,” says Muhammad Omer Khan.
According to the press statement, PostEx has crossed $21 million in annual recurring revenue and achieved profitability. It reportedly processes over four million monthly transactions and has the largest share in the e-commerce fulfillment market.
The proceeds will be used to consolidate PostEx’s market leadership in Pakistan and support an aggressive expansion into the GCC. This expansion comes amid a positive market environment with significant growth potential, as Pakistan’s $6 billion e-commerce sector currently accounts for just 1-2% of total retail transactions, compared to a global average of around 15%.
Kirill Kozhevnikov, Managing and Founding Partner at Conjunction Capital commented: “Our investment in PostEx underscores the strategic importance of the Saudi Arabian market as a key growth area within the GCC. PostEx’s innovative approach to integrating fintech with logistics positions them uniquely to address the evolving needs of e-commerce businesses in this region.”
