2 Pakistani startups make it to coveted Forbes ‘Asia 100 to Watch’ list

Two Pakistani startups, DealCart and Nayapay, have made it to Forbes’ coveted ‘Asia 100 to Watch 2024’ list.

According to the Forbes website, Karachi-headquartered DealCart operates an online grocery site aimed at the country’s growing middle class while NayaPay — a fintech startup — operates a payments processing platform, aiming to help digitalise transactions between consumers and businesses.

Dealcart — which raised $4.5 million in pre-seed funding — allowed customers to order fresh fruit and vegetables, snacks, detergents and other sundries. Small grocery stores can also sell on DealCart to tap its customer base, Forbes said.

It added that the firm raised $3m in a seed funding round co-led by Abu Dhabi-based Shorooq Partners and London-based Sturgeon Capital in July.

Meanwhile, NayaPay’s app supports an e-wallet, virtual debit card and online payments, while for business, it also offers point-of-sale devices that could be installed in stores.

The fintech startup raised $13m in 2022 in one of the largest seed rounds in South Asia led by Zayn Capital, MSA Novo and Graph Ventures.

NayaPay said it was “thrilled” at its inclusion. “This recognition places us among the most innovative trailblazers across 16 regions around the world.”

Earlier this year, seven Pakistanis made it to the Forbes 30 Under 30 list for Asia.

Separately, two Pakistani businesswomen were recognised by Forbes in its ‘100 Most Powerful Businesswomen 2024’ list in March.