Pakistani software firm Saleflo and South Korean delivery platform operator Barogo have raised funding.
Pakistan-based Jugnu parent Saleflo raises $3.2m
Pakistani software firm Saleflo, the parent company of B2B marketplace Jugnu, has raised PKR 518 million ($3.2 million) from Systems Limited, a Lahore-based outsourced technology and business process services provider, KrAsia reported.
Founded in 2015, Saleflo is one of Pakistan’s largest sales and distribution platforms managing revenue in excess of $2 billion. The company has worked with 40 enterprise FMCGs, pharma, and distribution companies.
The company plans to use the latest funds to further expand Jugnu, its B2B marketplace that serves small and medium-size businesses. Currently available in Lahore, Jugnu serves thousands of grocery store owners through its mobile app and fulfillment centres – offering next-day delivery for all their purchases.
S Korea’s Barogo raises $71.7m
South Korea’s delivery platform operator Barogo has raised 80 billion won ($71.7 million) in a Series C funding round from LB Investment and STIC Ventures.
Korea Investment Partners, Premier Partners, YG Investment, and Shinhan Venture Investment also participated in this round.
E-commerce firm 11st and retail conglomerate CJ Group joined the round as strategic investors. 11st invested 25 billion won in the latest round while CJ Group’s total investment in the logistics firm reached 10.5 billion won, The Korea Herald reported.
Barogo, an on-demand same-day shipping service, will use the proceeds to set up micro-fulfillment centers across Seoul and its surrounding cities. In addition, it will hire 100 new employees, including developers and those in non-technical sectors, to advance the company’s delivery services.