ISLAMABAD: Despite the limited availability of digital platforms to facilitate cross-border trade in Pakistan, a new startup, Galaxefi, is set to revolutionise the industry by introducing a fully digitised trade ecosystem. Leveraging modern logistics technologies, fintech solutions, and trade digitization innovations, Galaxefi aims to streamline the largely offline freight forwarding and shipping industry, where approximately 80% of operations still rely on outdated methods. The platform, launching Thursday, promises to bring Pakistan’s cross-border trade into the digital age.
According to available documents, Galaxefi has already formed strategic alliances with leading local and international players like Easypaisa, 1Link, Jazz, and others. According to company insiders, its tech partner is Nisum, a Silicon Valley-based firm with over 1,700 developers spread across five countries. Since 2022, Nisum has spearheaded the platform’s development, managing all aspects from resource allocation and development to testing and maintenance. More than 40 highly skilled tech resources based across multiple locations have worked tirelessly for two years to build the Galaxefi platform.
At its core, Galaxefi offers real-time payment solutions such as IBFT (Inter-Bank Funds Transfer) and P2M (Person to Merchant) services with same-day settlement, simplifying the process for traders. The platform facilitates end-to-end supply chain visibility with minimal human intervention, thanks to an integrated and digitised process that reduces redundant work. Currently, Galaxefi is partnered with 1 Link, Raast, Easypaisa, Paymob, Meezan Bank, Faisal Bank, Jazz, BlueEx, Trade Foresight, and others in the pipeline.
Moreover, Galaxefi is collaborating with the Pakistan Single Window (PSW) to provide value-added services to traders, aiming to boost trade facilitation. If more companies like Galaxefi partner with PSW, Pakistan’s freight forwarding, shipping, logistics, and fulfillment sectors could experience a much-needed digital revolution. 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
I am very optimistic about this startup Galaxefi! I am sure the demand is there but let see how they will capture the market. Good marketing will make the difference.