LAHORE: InstaMall, an eCommerce marketplace, has successfully managed to secure pre-seed investment from Pakistani business magnate and Arif Habib Group, Chairman, Arif Habib and aims to build out a trusted online marketplace and fix the key obstacles facing Pakistan’s e-commerce sector. According to a statement issued by the startup, InstaMall has secured pre-seed funding from Arif Habib Group, Chairman, Arif Habib, however, the statement did not disclose the value of funding received. Both brothers have previously worked in telecom, technology, media and finance sectors, and have now entered Pakistan’s eCommerce space. InstaMall has a promising vision and strategy to offer quality shopping experiences parallel to those of the best platforms in the region.”, Chairman, Arif Habib Group, Arif Habib said. Nonetheless, according to data from research firm Statista, revenues in the Pakistani eCommerce market are projected to reach $5,409 million in 2021.

Source: Pakistan Today March 29, 2021 08:37 UTC