Bykea, a Pakistani bike-ride sharing and on-demand delivery platform, raised $10M in funding.
Investors included Prosus Ventures, MEVP, Sarmayacar, Tharros, and Ithaca Capital.
The company plans to use the capital to enhance and extend its position in mobility and fulfillment services for consumers and SMEs, including food and e-commerce deliveries, as well as leveraging its fleet for fintech use cases like cash on delivery (COD), cash-pickup services, or verification services.
Led by Muneeb Maayr, Founder, and Jonas Eichhorst, Executive Chairman, Bykea is a large on-demand platform which runs on the rails of a network of motorbikes serving transport and delivery services for 40 million citizens in urban Pakistan. Its suite of services includes two-wheeler ride-sharing, instant deliveries, offline to online commerce, and payment services for small businesses delivering parcels, food collecting payments.
In the last two years, the company has seen growth in the three cities in which it operates: Karachi, Lahore, and Islamabad.