Omer Khan, founder and CEO of PostEx, is highly optimistic about the company’s potential to expand its eCommerce financing and logistics solutions for small merchants in Saudi Arabia. This optimism is based on positive initial testing results in both Saudi Arabia and the UAE. As a result, PostEx is set to launch in Saudi Arabia first, backed by a recent $7.3 million pre-Series A funding round.
This funding round, entirely equity-based and free of debt, was led by Conjunction Capital, a Dubai-based early-stage venture capital firm. New investors Dash Ventures and Sanabil500, along with existing backers VSQ, FJ Labs, and Zayn VC, also participated. This brings the total raised by PostEx to $15.9 million.
Despite conducting tests across multiple markets, the decision to concentrate efforts in Saudi Arabia is driven by The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
