Wed, 2019-05-08 13:23
KARACHI: Three years ago, Muneeb Maayr had what would turn out to be a $5.7 million idea: to launch a technology app that could transform two of the biggest assets of lower and middle income Pakistanis — the smartphone and the motorcycle — into a source of income.
Bykea, an Urdu-language bike-hailing and logistics app, was thus born in December 2016. Less than three years after its launch, the company has bagged $5.7 million in a Series A funding round from Pakistan’s first venture capital fund Sarmayacar and institutional investors from South East Asia and the Middle East.
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