{"id":88990,"date":"2024-08-25T00:00:00","date_gmt":"2024-08-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/25\/postex-plans-ksa-expansion-following-pre-series-a-round\/"},"modified":"2024-08-25T00:00:00","modified_gmt":"2024-08-25T00:00:00","slug":"postex-plans-ksa-expansion-following-pre-series-a-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/08\/25\/postex-plans-ksa-expansion-following-pre-series-a-round\/","title":{"rendered":"PostEx plans KSA expansion following pre-series A round"},"content":{"rendered":"

PostEx <\/strong>could be setting up shop in Saudi in a few days as part of its GCC<\/strong> expansion <\/strong>push<\/strong>, according to a press release (pdf)<\/a>. The Pakistan-based fintech and logistics company PostEx<\/a> is initially concentrating its GCC expansion efforts in Saudi Arabia and the UAE, CEO Omer Khan told Enterprise UAE last week<\/a>. The company launched a pilot in Saudi Arabia with online merchants and local financing partners to fine-tune its offering before a full market entry. <\/p>\n

Background:<\/strong> The startup secured USD 7.3 mn in pre-series A funding round last week. The investment will allow PostEx to expand its operations in the GCC and double down its presence in Pakistan. The funding round was led by Dubai-based Conjunction Capital, with participation from Saudi Arabia\u2019s Sanabil 500, Jordan\u2019s Dash Ventures, and existing investors VSQ, FJ Labs, and Zayn VC.<\/p>\n

More on PostEx:<\/strong> The Punjab-based company offers up-front payments for cash-on-delivery e-commerce orders placed by suppliers. PostEx serves 15k e-commerce merchants, with 80% using both its payment and logistics solutions, while the rest rely solely on its logistics services, according to Khan. The company became profitable over the past 18 months, after crossing annual recurring revenue of USD 21 mn, the statement said. <\/p>\n

PostEx provides funding exclusively to e-commerce businesses that use its logistics<\/strong> network<\/strong>, a strategy that helped to maintain the company\u2019s non-performing loan rate below 0.03%, according to Khan. The company covers around 60-70% of order values, with the remaining balance provided after delivery and payment. Financing levels are determined by the size of the business and the scale of its orders.<\/p>\n

Investors <\/strong>\u2764\ufe0f <\/strong>PostEx:<\/strong> The startup raised USD 1.5 mn in a previous seed round in 2021<\/a> led by MSA Capital. Shorooq Partners, Zayn Capital, VentureSouq, PNO Ventures, +92 Ventures, and Arbisoft\u2019s CEO Yasser Bashir also participated in the funding round. <\/p>\n","protected":false},"excerpt":{"rendered":"

The funding round saw participation from Sanabil 500<\/p>\n","protected":false},"author":1,"featured_media":88991,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2556],"tags":[349,10,208,678,179,5],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-e-commerce","tag-enterpriseam-ksa","tag-fintech","tag-pakistan","tag-startup-watch","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"c33861e0-06b3-4809-a731-6ec3b958d57d","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1848.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Fintech, logistics startup PostEx eyes KSA expansion following pre-series A round","related_issue":[88981],"teaser":"The funding round saw participation from Sanabil 500","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.6255aabb-8ec2-4131-8c85-3cf695e273d0.mp3"},"yoast_head":"\nPostEx plans KSA expansion following pre-series A round - 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