Monday, December 17, 2018

Cheetay is on the Move to Go Bigger than Ever and Ready to Lock in Institutional Funding

Cheetay is on the Move to Go Bigger than Ever and Ready to Lock in Institutional Funding



Cheetay.pk being on the trajectory of growth and expansion has to date raiseda whopping $3.675 million in funding frominvestors based in the U.S. Thefunding has enabled them toestablish a logistics base of an entire fleet ofriders and dedicated vehicles, over 450 restaurantsand more than 200 employees.Starting with food delivery as the initial business vertical, they haveexpanded into delivering Books, Health & Beauty products and are on thecusp of launching Cheetay Grocery.

Their aim now is to go for an institutional funding round to acquire $10 million. With their vision and roadmap planned out, they plan to make a tectonic change in the industry by being the go to last mile company that provides an array of services not just in Lahore but in multiple cities throughout the country. Acquiring this amount will enable them to capitalise on their position in the industry and will help them focus on new product innovation and numerous initiatives that will help maintain control of the customer’s journey in an e-Commerce arena.

“We’re now expanding at an exponential rate, and have big plans in the pipeline to make Cheetay the biggest last mile e-Commerce company in the country. Daraz is now worth over $ 150 million dollars, so my goal is to reach a level commensurate to what we see in India, not only in terms of the tech eco system but a company worth billions”

, said Ahmed Khan, CEO, cheetay.pk

Having created an established platform, and raising an additional $ 1.675 million in the previous funding round, their plan is to vigorously pursue the path of growth and expansion. Venturing into new business categories is their prerogative, as they are soon launching Cheetay Grocery whereby anyone can order a grocery item with the touch of a button as they sit at home.

“We’ve got numerous projects lined up, not only in terms of technology, innovation and expansion but are well on our way to changing the dynamics of e-Commerce and how it works. Adapting to the emerging and changing environment, we’re ready to create a splash and go big”, stated Osman Chaudry, Chief Operating Officer, cheetay.pk





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