Lahore-headquartered fintech and logistics startup PostEx has successfully raised $7.3 million in a pre-Series A round, led by Conjunction Capital, a Dubai-based venture capital firm. This investment brings PostEx’s total financing to approximately $16 million. The funding round also included participation from Dash Ventures, Sanabil500, and existing investors like VentureSouq, FJ Labs, and Zayn VC.
PostEx was founded in 2020 by Omer Khan, Saad Mahmood, Babar Razzaq, and Adil Naseem. Initially, the startup began as a third-party logistics provider for e-commerce merchants in Pakistan, but it has since evolved into a platform offering Shariah-compliant, non-dilutive financing to help these businesses address cash flow challenges. The fintech arm of PostEx leverages its logistics data to screen and offer financing solutions to e-commerce businesses, enabling them to convert their recurring revenue into immediate capital.
As of now, PostEx has provided approximately $90 million in loans to over 8,000 businesses. The company is processing over four million transactions monthly and reports an annual revenue run rate of $21 million, having reached profitability within a few years of its launch.
The startup’s strategy includes expanding its operations into the Middle East and North Africa (MENA), with Saudi Arabia as its initial target market. PostEx has already launched a pilot program in Saudi Arabia and is in the process of acquiring a local license to offer its financing solutions. It has also secured a license in the UAE and plans to roll out its services there following its Saudi expansion.
In a statement, CEO Muhammad Omer Khan emphasized that traditional financial institutions in the GCC and Pakistan often fail to meet the needs of digital entrepreneurs. PostEx aims to fill this gap by providing flexible and affordable funding solutions through its integrated logistics and fintech platform.
The company’s acquisition of Call Courier, a leading logistics provider in Pakistan, in 2022 has further strengthened its market leadership, allowing it to scale operations rapidly across the country. This acquisition has been pivotal in positioning PostEx as a dominant player in Pakistan’s e-commerce logistics and fintech sectors.
Conjunction Capital’s Managing and Founding Partner, Kirill Kozhevnikov, noted that their investment in PostEx underscores the strategic importance of the Saudi Arabian market within the GCC. He highlighted PostEx’s innovative approach to combining fintech and logistics, which uniquely positions the company to address the evolving needs of e-commerce businesses in the region.
With the latest funding, PostEx is well-equipped to expand its services and continue disrupting traditional financing and logistics models in the MENA region. The startup’s growth strategy is focused on capturing a significant share of the region’s fast-growing e-commerce market by providing tailored solutions that address the unique challenges faced by online businesses.
