Pakistan’s first cashback app and pay-per-sale affiliate marketing network, Savyour raised $3.3m in a seed round led by Global Founders Capital and Zayn Capital. Other participants in the round include; Fatima Gobi Ventures, Disrupt.com, Rally Cap Ventures, +92 Ventures, Suya Ventures, Mir Aamir, former CEO of Quotient Technologies, and Pere Hospital, co-founder of Secways.
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Savyour raised $3.3m to accelerate its online expansion
Umair Gadit, Co-Founder and Chief Executive Officer of Savyour said, “Over 64% of Pakistan’s population is below 30, which means you have a new wave of shoppers who are demanding, tech-savvy, and seek more value for their money to counter inflation. Savyour acts as the ultimate shopping companion for buyers by providing them with the best rewards and curation of local brands.” He further added; “Pakistan’s commerce sector faces a number of challenges; the lack of consumer trust and confidence, being dominated by SMEs that lack both talents and resources to grow, and having no dedicated discovery platform. Digitizing this space will open up new opportunities and help level the field, for both consumers and businesses.”
Savyour raised $3.3m to accelerate its online expansion and launch the in-store feature for the platform. While talking about the company’s expansion plan, Umair said that their immediate goal is to strengthen their presence is not just in the major cities of the country, but also in far-flung areas where there is immense potential. Overall, Savyour has seen 52% month-over-month growth since its launch and disbursed over Rs. 100 million in cashback to their users. Currently, Savyour’s user base extends across 58 Pakistani cities.
About the company
Launched in August 2020 by Umair Gadit and Saad Gadit, the company has changed the online shopping game in Pakistan for both consumers and merchants. It enables consumers to buy better brands at the best prices while enabling brands, retailers, and e-tailers to grow their business on a pay-per-sale model. Partner brands only need to pay commissions for every successful transaction done through Savyour, making it a marketing platform driven purely by returns on investment. Additionally, users are also able to redeem the amount saved in their Savyour wallets directly into their bank accounts or digital wallets.
Savyour has processed more than 200,000 orders and collaborated with over 250 partner brands, including; Daraz, food panda, Bata, Baggallery, elo, Naheed.pk, Pizza Hut, leading fashion designers, and many more. Tito Costa, partner at Global Founders Capital said; “We believe in Savyour’s mission to deliver savings to online shoppers while driving revenue growth for retailers, making it an essential building block for the e-commerce ecosystem in Pakistan.”
Source: DAWN
