Bykea raises $10mn funds to fuel growth

MG News | June 27, 2022 at 02:45 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

June 27, 2022 (MLN): Bykea, the local ride-sharing and delivery startup, raised $10 million from its existing backers to tap rising demand for online services in the country, reported Bloomberg.

Bykea, which focuses on two-wheeler rides, said in a statement Monday it plans to use the funds to extend its services, which include food and e-commerce deliveries, as well as cash pick-up.

The company’s investors include Prosus Ventures, MEVP, Sarmayacar, Tharros, and Ithaca Capital.

With 1.7 million active monthly users and more than 60,000 driver-partners, Bykea offers services in Karachi, Lahore and Islamabad. It’s among an emerging crop of Pakistani startups attracting attention from global venture investors as mobile services gain popularity in the country of more than 200 million people, it added.

“We see an enormous opportunity to serve the middle class by offering easy, affordable, and convenient transport and logistics solutions,” Bykea Executive Chairman Jonas Eichhorst said in the statement.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	176,886.66 163.78M	-0.05% -80.03
ALLSHR	107,546.72 400.53M	-0.05% -53.03
KSE30	52,654.32 44.42M	0.02% 9.79
KMI30	251,065.21 71.80M	-0.18% -450.60
KMIALLSHR	69,451.45 269.78M	-0.11% -74.58
BKTi	49,879.90 6.40M	0.24% 117.71
OGTi	36,607.79 6.13M	-0.61% -223.51

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	80,085.00	81,350.00 78,710.00	1235.00 1.57%
BRENT CRUDE	91.61	92.90 91.15	-0.56 -0.61%
RICHARDS BAY COAL MONTHLY	110.30	0.00 0.00	-0.20 -0.18%
ROTTERDAM COAL MONTHLY	124.55	124.55 124.55	0.00 0.00%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	84.37	85.84 84.11	-0.64 -0.75%
SUGAR #11 WORLD	17.56	17.74 17.42	-0.09 -0.51%