Pakistani Startups DealCart and NayaPay Featured on Forbes Asia’s 100 To Watch List
Pakistani startups DealCart and NayaPay have been recognized on Forbes Asia’s 100 To Watch List, which highlights promising small companies and startups across the Asia-Pacific region.
This year’s list includes companies from 16 countries and territories, spanning 10 industries such as enterprise technology, robotics, finance, manufacturing, and energy. India leads with 20 companies, followed by Singapore with 15, mainland China with 10, Japan with 9, and Indonesia with 8.
DealCart, founded in 2022 and headquartered in Karachi, operates an online grocery platform catering to Pakistan’s expanding middle class. Customers can purchase fresh produce, snacks, detergents, and other essentials. The platform also allows small grocery stores to reach a wider customer base. In July, DealCart secured $3 million in seed funding from Abu Dhabi-based Shorooq Partners and London-based Sturgeon Capital, according to Forbes.
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NayaPay, a fintech startup established in 2016, provides a payments processing platform in Pakistan designed to facilitate digital transactions between consumers and businesses. Its app features an e-wallet, virtual debit card, and online payment options. Additionally, NayaPay offers point-of-sale devices for businesses. The company raised $13 million in a 2022 seed funding round led by Zayn Capital, MSA Novo, and Graph Ventures.
To compile the 100 To Watch List, Forbes Asia reviewed online submissions and sought nominations from accelerators, incubators, universities, venture capitalists, and other entities. Eligible companies were required to be headquartered in the Asia-Pacific region, be privately owned for-profit ventures, and have annual revenues below $50 million and total funding under $100 million as of August 7.
The Forbes Asia team evaluated each nominee based on factors such as industry impact, market fit, business model potential, innovation, consistent revenue growth, and funding attraction.
