Savyour, the popular Pakistan-based Fintech platform, and developer of the first cashback app and pay-per-sale affiliate marketing network that they’ve managed to successfully raise about $3.3M in its latest funding round. This latest seed round was co-led by Global Founders Capital and Zayn Capital and it was joined by Fatima Gobi Ventures, Disrupt.com, Rally Cap Ventures, +92 Ventures, Suya Ventures, as well as angel investors Mir Aamir, former CEO of Quotient Technologies and Pere Hospital, co-founder of Secways.
Savyour was launched by Umair Gadit and Saad Gadit back last year as a fintech startup and it has been set forth to revolutionize the shopping experience in Pakistan on a holistic level for both consumers and merchants ever since its foundation. It has been helping financial inclusion by incentivizing transactions regardless of the mode of payment and that’s not all. This particular fintech platform aims to promote consumers to buy better brands with the most affordable prices which will allow brands, retailers, and e-tailers to grow their business on a pay-per-sale model.
Umair Gadit, Co-Founder and Chief Executive Officer of Savyour highlighted “Over 64% of Pakistan’s population is below 30, which means you have a new wave of shoppers who are demanding, tech-savvy and seek more value for their money to counter inflation. Savyour acts as the ultimate shopping companion for buyers by providing them with the best rewards and curation of local brands.
“Pakistan’s commerce sector faces a number of challenges; the lack of consumer trust and confidence, being dominated by SMEs that lack both talents and resources to grow, and having no dedicated discovery platform. Digitizing this space will open up new opportunities and help level the field, for both consumers and businesses,” Gadit added.
Tito Costa, Partner at Global Founders Capital elaborated “We believe in Savyour’s mission to deliver savings to online shoppers while driving revenue growth for retailers, making it an essential building block for the e-commerce ecosystem in Pakistan.” While Faisal Aftab, Co-Founder & Managing Partner of Zayn Capital’s Frontier Fund concluded “ Savyour’s offerings come at a crucial time when online and offline users are seeking deals and cash rewards to meet their monthly budgets, against the backdrop of a global monetary environment where consumers’ purchasing power is increasingly eroded.”
