CW Pakistan
  • Legacy
    • Legacy Editorial
    • Editor’s Note
  • Academy
  • Wired
  • Cellcos
  • PayTech
  • Business
  • Ignite
  • Digital Pakistan
  • DFDI
  • PSEB
  • PASHA
  • TechAdvisor
  • GamePro
  • Partnerships
  • PCWorld
  • Macworld
  • Infoworld
  • TechHive
  • TechAdvisor
0
0
0
0
0
Subscribe
CW Pakistan
CW Pakistan CW Pakistan
  • Legacy
    • Legacy Editorial
    • Editor’s Note
  • Academy
  • Wired
  • Cellcos
  • PayTech
  • Business
  • Ignite
  • Digital Pakistan
  • DFDI
  • PSEB
  • PASHA
  • TechAdvisor
  • GamePro
  • Partnerships
  • DEMO PAKISTAN
  • Ignite

Bykea Raises $5.7mn in Series A Funding by Sarmayacar

  • April 30, 2019
Total
0
Shares
0
0
0
Share
Tweet
Share
Share
Share
Share

Bykea, Pakistan’s largest network of motorbikes for transport, logistics and payments raises $5.7 million in Series A funding

Karachi, Pakistan, Apr 30, 2019 — Bykea, a technology platform for on-demand transport and related services, announced today that it has completed a $5.7 million Series A round of financing from Pakistan’s first VC fund Sarmayacar and institutional investors from South East Asia and the Middle East. The financing will be used to fund Bykea’s expansion in ride sharing, express delivery and conversion of cash for digital use, for both consumers and businesses across Pakistan.

Bykea enables a crowdsourced network of motorbike owners to transport people and parcels allowing them to supplement their incomes while delivering cost effective logistics solutions. Its cash on delivery technology enables real time transactions in a nascent payments market thereby pioneering the development of e-commerce in Pakistan. Over two hundred thousand motorbike owners have installed the partner app to connect with over two million users in Karachi, Rawalpindi, Islamabad and Lahore.

Bykea does one million bookings a month. Although available in English, the platform is mostly deployed in Urdu with voice notes to facilitate the use of technology by the broadest audience in their local language.

Bykea Team: Rafiq Malik, Abdul Mannan, Jonas Eichhorst, Muneeb Maayr, Rabeel Warraich, Ishaq Kothawala, Haider Ali
Left to Right: Rafiq Malik, Abdul Mannan, Jonas Eichhorst, Muneeb Maayr, Rabeel Warraich, Ishaq Kothawala and Haider Ali Hilaly

Muneeb Maayr, CEO of Bykea said,

“We’re aiming to solve technology adoption and economic activity for the 200 million people in Pakistan by allowing users to connect with one another via simple steps in Urdu or voice chat. We are also working with leading telecommunication providers to enable feature phones, or not-so-smart phones, to connect to our driver partner network of part timers. The additional investment will pave the way for deeper penetration into the masses enabling Pakistanis at large to use technology to better facilitate personal and business activity in the cities.”

Bykea was seed funded by a group of angel investors in a round led by Ithaca Capital who have made several pioneering venture capital investments in Pakistan. It was founded by veterans from eCommerce and logistics, (Muneeb Maayr, Co-Founder at Daraz.pk, now an Alibaba company and Director Operations for 7 years at SNL Pakistan, now S&P Global, one of the largest IT exporters from Pakistan), Abdul Mannan (formerly at Rocket Internet’s Kaymu.pk), Ishaq Kothawala (Head Actuary at Pak-Qatar, a leading insurance company) and Rafiq Malik (formerly COO at TNT Logistics Pakistan a subsidiary of one of the largest logistics networks in the world).

Read: Momentum Tech Conference Returns for Round Three

Rabeel Warraich, Managing Partner at Sarmayacar said,

“We are pleased to join Bykea on its journey of building affordable technology solutions that will create income generating opportunities for tens of thousands in Pakistan, while addressing rampant challenges in the transportation, logistics and payments sectors of the country.

This transaction also ushers a new era of venture capital investment into Pakistan by bringing together varied and complementary value propositions of institutional VCs from different parts of the world to back one of Pakistan’s most promising startups. 

“After regularly visiting Pakistan over the past 3 years, the tremendous potential of the country is obvious to me. Bykea and its team are in a great position to play a leading role not only in advancing the nascent startup sector but can also become a local champion within the overall economy, similar to GoJek’s tremendous success in Indonesia” said Singapore-based Jonas Eichhorst, who will join the company’s board as part of the transaction.

“We are excited for the next round of Bykea’s development and welcome the institutional investment that brings relevant expertise from other developing markets to the Company. We have worked with Muneeb and his team to develop Bykea by seeding this project despite the obstacles involved in raising substantial further capital for venture stage companies in Pakistan. We are also pleased to have been the main sponsor of one of the largest Series A investments in Pakistan’s history,” said Haider Ali Hilaly, Managing Director at Ithaca Capital.

Bykea’s funding announcement follows a series of customer launches, including a collaboration with the country’s leading telecom network Jazz on connecting customers with drivers using a simple dial in mobile number 0307-1234567.

Read: Bykea Takes The Lead on Travel & Local Application

Additionally, the company has received grants from USAID’s Small & Medium Enterprises Development Authority to help create jobs in the hospitality sector and the Mahvash & Jehangir Siddiqui Foundation for providing short term lending to enable motorbike owner operators with income opportunities. The announcement was made at the National Incubation Center Karachi, as Bykea is one of the Karachi chapter’s first members.

Going forward, Bykea intends to use funds from the new raise to continue to focus on increasing its driver network and provide new members income generating opportunities in the transport, delivery and ecommerce space. The Company is also actively looking to fill roles within the organization as it expands its execution capabilities.

Users can learn more and download the app by visiting https://www.bykea.com

 

Share
Tweet
Share
Share
Share
Related Topics
  • Bykea
  • DEMO
  • DEMO Pakistan
  • Muneeb Maayr
  • Pakistani entrepreneurs
  • Pakistani startups
  • Sarmayacar
  • Series A funding
Previous Article
  • Computerworld

Pakistan Gets its First Online Food Festival: GroupM, FoodPanda

  • April 29, 2019
Read More
Next Article
  • Computerworld

Ecommerce Logistics Companies Partner to Launch Omni Channel Fulfillment Solution

  • April 30, 2019
Read More
You May Also Like
Read More
  • Ignite

ELFA and Bykea Join Forces to Expand Electric Mobility for Pakistan’s Gig Workers

  • Press Desk
  • July 8, 2025
Read More
  • Ignite

WonderTech Deploys VR Escape Room at Unilever Walls Factory to Boost Team Agility and Growth

  • Press Desk
  • July 3, 2025
Read More
  • Ignite

Bioniks Fits First Prosthetic Limb on Gaza War Survivor Amid Humanitarian Expansion

  • Press Desk
  • July 3, 2025
Read More
  • Ignite

Pakistan’s GeoGemma Wins Best AI Use at 2025 APAC Challenge for Disaster Mapping Tool

  • Press Desk
  • June 29, 2025
Read More
  • Ignite

KKAWF Launches World’s First AI Drug Prevention App “Clear Minds” for Pakistan

  • Press Desk
  • June 26, 2025
Read More
  • Ignite

Alibaba.com Launches $1M CoCreate Pitch Competition for Global and Pakistani SMEs

  • Press Desk
  • June 26, 2025
Read More
  • Ignite

Advergic Transforms Digital Publishing in Pakistan with Google Partnership

  • Press Desk
  • June 25, 2025
Read More
  • Ignite

Virtual Event to Explore Practical AI Applications for SMBs and Agencies

  • Press Desk
  • June 25, 2025

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Posts
  • PEC Sets Goal to Train 45,000 Engineers in Generative AI by 2028
    • July 9, 2025
  • KP Allocates Rs. 364 Billion for Smart Classrooms, School Infrastructure, and Access Expansion
    • July 9, 2025
  • Pakistan Secures $1.55 Million in Deals and 300 Leads at London Tech Week 2025
    • July 9, 2025
  • Pakistan Software Exports Cross $1 Billion Mark in July–May FY25
    • July 9, 2025
  • Khyber Pakhtunkhwa Introduces QR-Based Digital ID Platform for Unified Public Services
    • July 9, 2025
about
CWPK Legacy
Launched in 1967 internationally, ComputerWorld is the oldest tech magazine/media property in the world. In Pakistan, ComputerWorld was launched in 1995. Initially providing news to IT executives only, once CIO Pakistan, its sister brand from the same family, was launched and took over the enterprise reporting domain in Pakistan, CWPK has emerged as a holistic technology media platform reporting everything tech in the country. It remains the oldest continuous IT publishing brand in the country and in 2025 is set to turn 30 years old, which will be its biggest benchmark and a legacy it hopes to continue for years to come. CWPK is part of the SPIN/IDG Wakhan media umbrella.
Read more
Explore Computerworld Sites Globally
  • computerworld.es
  • computerworld.com.pt
  • computerworld.com
  • cw.no
  • computerworldmexico.com.mx
  • computerwoche.de
  • computersweden.idg.se
  • computerworld.hu
Content from other IDG brands
  • PCWorld
  • Macworld
  • Infoworld
  • TechHive
  • TechAdvisor
CW Pakistan CW Pakistan
  • CWPK
  • CXO
  • DEMO
  • WALLET

CW Media & all its sub-brands are copyrighted to SPIN-IDG Wakhan Media Inc., the publishing arm of NCC-RP Group. This site is designed by Crunch Collective. ©️1995-2025. Read Privacy Policy.

Input your search keywords and press Enter.