DealCart, a social e-commerce startup in Pakistan, has raised $3 million in seed funding led by Shorooq Partners and Sturgeon Capital, with contributions from 500 Global, Evolution VC, Rayn Capital, and Khyber Venture Partners. This funding aims to enhance DealCart’s mission of providing affordable essential goods to low- and middle-income consumers across the country.
With Pakistan’s inflation rate surpassing 30 percent in 2023, many households are under significant financial strain. DealCart addresses this issue by sourcing low-cost products directly from manufacturers and collaborating with local brands, helping consumers who spend a large portion of their income on groceries and essentials save more and invest in their future.
DealCart targets a digitally savvy younger population that prefers online shopping. Despite the rapid growth of e-commerce in neighboring India, Pakistan’s sector has lagged. The State Bank of Pakistan’s introduction of RAAST, an online instant payment platform, supports DealCart’s efforts to bridge this gap and boost the country’s e-commerce sector.
Shorooq Partners believe DealCart’s unique approach to social commerce and affordable essentials aligns with their mission to support market-leading disruptors. This investment is expected to help DealCart scale rapidly and significantly impact the lives of millions in Pakistan.
DealCart combines social commerce with a gamified and interactive platform to provide underserved communities access to affordable daily essentials. By sourcing products directly from manufacturers and working with local brands, DealCart aims to revolutionize the way Pakistani consumers shop for necessities.
