Pakistani startups DealCart and NayaPay have been featured on the Forbes Asia 100 to Watch List, which highlights emerging 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, and manufacturing. India leads the list with 20 companies, followed by Singapore with 15, mainland China with 10, Japan with 9, and Indonesia with 8.
DealCart, founded in 2022 and based in Karachi, operates an online grocery platform targeting Pakistan’s growing middle class. The platform allows customers to order fresh produce, snacks, detergents, and other household items.
It also enables small grocery stores to reach a broader customer base by selling on DealCart. In July, DealCart secured $3 million in seed funding, co-led by Abu Dhabi-based Shorooq Partners and London-based Sturgeon Capital, as noted by Forbes.
NayaPay, a fintech startup established in 2016, offers a payments processing platform in Pakistan designed to facilitate digital transactions between consumers and businesses.
The NayaPay app features an e-wallet, virtual debit card, and online payment capabilities. For businesses, NayaPay provides point-of-sale devices for in-store use. The startup raised $13 million in a 2022 seed funding round led by Zayn Capital, MSA Novo, and Graph Ventures, according to Forbes.
Forbes Asia compiled the 100 to Watch list by soliciting online submissions and inviting nominations from accelerators, incubators, universities, venture capitalists, and other stakeholders. To qualify, companies need to be headquartered in the Asia-Pacific region, privately owned, for-profit and have no more than $50 million in annual revenue and $100 million in total funding as of August 7.
The Forbes Asia team evaluated each submission based on factors such as industry impact, regional contribution, market fit, innovative business models, consistent revenue growth, and the ability to attract funding.
