PAKISTANI STARTUPS SHINE: Delcart and Nipay Make Forbes ‘Asia 100 to Watch 2024’ List

Two Pakistani startups, Delcart and Nipay, have been featured in the prestigious Forbes ‘Asia 100 to Watch 2024’ list, thanks to the support of the Sindh Innovation Fund Company (SIFC). Delcart aims to alleviate budget constraints for middle and low-income consumers by offering affordable essential items, while Nipay seeks to digitize transactions between businesses and consumers.

Delcart, which received $5 million in pre-seed funding, allows customers to order fresh produce, detergents, and more. The startup has also raised $3 million in seed funding from investors like Shorooq Partners and Sturgeon Capital. Nipay, on the other hand, provides an e-wallet, virtual debit card, and online payment facilities, as well as point-of-sale devices for businesses. The startup secured $13 million in funding in 2022 from investors like Zain Capital and Graph Ventures.

The recognition by Forbes places these startups among the most innovative leaders in 16 regions worldwide. According to Nipay’s CNO, this inclusion is a significant achievement, showcasing the potential of Pakistani startups to drive economic change through technology and support for small businesses.