Bookme, Pakistan’s top e-ticketing site, has raised $7.5 million in a Series A fundraising round, with over 4.6 million registered consumers in the transportation and entertainment industries. $7.5 million raised by Bookme pk.
Bookme.pk, a travel and ticketing platform similar to Traveloka in Indonesia, allows clients to book intercity buses, airlines, hotels, and events in Pakistan online.
With participation from MENA-based BY Ventures and Jabbar Internet Group, New York-based Millville Opportunities, and Silicon-Valley-based Mentor’s Fund, Zayn Capital, seed investor Lakson VC, and UAE-based Hayaat Global led the round.
Bookme’s CEO and Founder, Faizan Aslam, shared his thoughts:
With the highest number of day-to-day digital transactions for banks and payment gateways, Bookme is Pakistan’s first cashless platform. To help ensure a transparent, easy, and efficient e-ticketing system in Pakistan, Bookme has partnered with the nation’s leading mobile wallet platform to offer its customers BNPL services, which leverage historical data and spending patterns of over six million customers.
Due to massive infrastructure investments over the last five years, the road infrastructure and connectivity in Pakistan has improved on an unprecedented scale, resulting in significant growth of the intercity bus segment. In addition, large urban cities in Pakistan house a significant number of rural migrants, resulting in a high demand for bus travel for their work commute.
$7.5 million raised by Bookme pk
Babar Lakhani, Managing Partner of Lakson Venture Capital, commented:
Pakistan’s No.1 online travel platform https://t.co/aqtT5iGZPY raises $7.5 million in ‘Series A’ funding round— Muhammad Nabeel (@Muhamma00445292) December 12, 2021
The round is led by Zayn Capital, Lakson Investments and Hayaat Group.#venturecapital #technology #innovation #startups #pakistan #travel #ecommerce #founders pic.twitter.com/FySmpRvnLc
Faisal Aftab, Co-Founder & Managing Partner of Zayn Capital Frontier Fund, stated:
In densely populate provinces like Punjab and Khyber Pakhtunkhwa, increasing demand for buses is attribute to cost effectiveness and reduced travel distances. The 82 million-strong middle class, made up primarily of Millennials and Generation Z, has contributed to the surge in demand for buses, airlines, hotels, and entertainment venues as domestic tourism and entertainment have grown in recent years.
Hayaat Global SFO DMCC Director Mohammed Ikhlaq believes:
Pakistani businesses have raised more than $300 million so far in 2021. The number of internet users in the country has increased from 20 million in 2015 to more than 100 million in 2021. Platforms like Bookme.pk, which are one of the most notable local use cases for this nascent digital economy, are positioned to grow quickly.