Islamabad, Aug 27: Founded in 2022, DealCart and NayaPay, both based in Karachi, are Pakistani startups that have made it onto Forbes Asia 100 To Watch List. The list features businesses from 16 countries and territories that operate in 10 industries, including finance, manufacturing and energy, and enterprise technology and robotics. India has the largest representation this year with 20 companies, followed by Singapore (15), mainland China (10), Japan (9) and Indonesia (8).
According to Forbes, the company completed a $3 million seed investment round in July, co-led by London-based Sturgeon Capital and Abu Dhabi-based Shorooq Partners. NayaPay is a fintech firm that was established in 2016 with the goal of helping businesses and consumers trade online. The company runs a payments processing platform in Pakistan.
Online payments, virtual debit cards, and e-wallets are all supported by the NayaPay app. NayaPay also provides point-of-sale systems that may be deployed in retail locations for companies. According to Forbes, the financial business raised $13 million in a 2022 seed investment round headed by Graph Ventures, MSA Novo, and Zayn Capital.
In addition to inviting accelerators, incubators, universities, venture capitalists, and others to suggest firms, Forbes Asia also invited online applications from companies in order to choose the finalists on the 100 to Watch list. Companies had to be privately held, for-profit operations with headquarters in the Asia-Pacific area, with yearly revenue no more than $50 million and total capital no more than $100 million until August 7 in order to be eligible for consideration.
The Forbes Asia team assessed each proposal, taking into account elements including market fit, impact and contribution to the industry and region, innovation, a track record of steady revenue development, and financing attraction potential.
