As Alibaba Group brings in tough competition for the ecommerce players in Pakistan, Yayvo, one of Pakistan’s top online retailer plans to bring in more investors. Yayvo was founded in 2014, under the TCS E-commerce wing. The ecommerce platform currently sells more than 150,000 products from detergent to mobile phones and televisions.
It is reported that the e-commerce company has appointed advisers in order to help with the fundraising. Yayvo’s head, Adam Dawood speaking to the local news said,
“Yayvo aims to start meeting with potential investors in the Middle East and China next month.”
“We want to bring in experts who can help us grow faster and bring in more money to the point that we can grow much, much faster. We are actually looking for the right investors who can come in, be very strategic investors, who can help out with our future plan.”
The shareholders of the company also own Pakistan’s largest logistics company TCS that have a network of more than 950 outlets that make about 500,000 deliveries a day. We’re hoping the group’s stature and backing brings in the best for the e-commerce side of their business too.