Karachi-headquartered Webx, an e-commerce SaaS start-up that allows retailers to build their online stores in minutes, announced raising an undisclosed seed funding round from UAE-based investors.
The startup serves as a one-stop solution for e-commerce that takes care of the payment and delivery channels by integrating stores with top-tier payment providers and logistics services.
The seed funding was arranged by Al-Hilal Securities Advisors whose Chief Executive, Faraz Younus Bandukda, CFA noted: “We are honored to assist this team led by Waleed Masood & Fraz Saleem. They are highly determined and passionate about building captivating experiences that dedicated communities can grow around — which aligns perfectly with our belief that e-commerce platforms will grow in the country. Over the last two years, in particular, we’ve seen Pakistan’s digital space exploding exponentially and international investors are excited to partner with Webx as they continue serving and growing this community.”
Webx was officially launched in 2018 and reportedly had a gross merchandise value of over Rs1 billion in 2021 with a 50% yearly growth. Waleed Masood, the founder, and CEO of Webx, said, “We want to make e-commerce easy and accessible to everyone. We have millions of retail businesses in Pakistan, and thousands of young entrepreneurs who are determined to build their own online brands.”