Well.pk Closes Its Second Round of Funding With Foreign and Local Investors
Karachi, Pakistan, July 20, 2016 (Newswire.com) - Well.pk, online retailer across a wide range of categories, today announced it has completed a round of financing. Planet N Group – Nadeem Hussain’s company with interests in eCommerce, FinTech, Retail, Super food agriculture, Digital Marketing, EduTech – led the investment round with participation from existing and new investors including Enabling Healthologies and Mr. Noor Abid (ex-Managing Partner Ernst & Young MENA, Chairman Al Shaheer Corp, Director Meezan Bank). The investment brings Well.pk’s total funding since launch close to $1 million and will help the company aggressively expand its marketing efforts as well as broaden and accelerate product development. Nadeem Hussain, Founder & CEO at Planet N Group, will join Well.pk’s Board of Directors as Chairman.
Planet N Group is the product of Nadeem Hussain’s vision for financial/economic inclusion of Pakistan’s population into the 21st century through technology. Since 2015, Planet N has added 13 startups into its portfolio across eCommerce, FinTech, EduTech, super food agriculture, retail and renewables. With plans to invest in more rising stars within these verticals, Planet N provides a platform to prime growth in startups through collaboration and shared services.
"As an industry we're just scratching the surface of how powerful eCommerce can be when it's combined with the massive scale offered by the growing digital ecosystem, in the country".
Furqan Kidwani, CEO at Well.pk
The financing builds on an exceptional year for Well.pk which saw a rapidly growing roster of categories, strategic hiring, and market momentum in the white-hot areas of eCommerce, and customer success (aka Customer Success at Well.pk). Well.pk appointed technology, customer success and marketing leaders from ICI, Rocket Internet, and SouthCity Hospital to the company’s executive ranks, and its supplier roster grew to include consumer brands such as Nike, Asim Jofa, Lenovo, Optimum Nutrition, Black & Decker, Beurer and Westpoint among many others.
“Well.pk’s offering is well-timed with the rapidly increasing demand for home-delivery solutions that extend the reach of brand and drive business results,” said Nadeem Hussain, Founder & CEO at Planet N Group. “We believe the market will continue to see a shift of spending towards online and digital channels as consumers increase their reliance on mobile data and look to spend more time online. Well.pk is a much needed entrant to the nascent eCommerce industry and we are excited to collaborate with and support them as they work to build a great company in an exciting vertical.”
Well.pk’s platform enables quality brands’ portfolio of SKUs reach customer’s door step within the shortest time span and best possible prices. At the heart of Well.pk’s mission is a Customer centric approach that ensures only verified and genuine products are sold. This essentially leads into eTailing unlike most other online stores in the country, which are not more than a marketplace relying on vendors to ship what they promised. Well.pk takes principal position on the stock it sells and honours all brand warranties.
Key features and benefits of shopping on Well.pk platform include:
• Customer success team helping customers making personalized shopping decision via telephone, chat, WhatsApp
• Direct brand relationships and surety of valid warranties as offered by brands
• Relevant Content for our customers as per their demand making purchasing decisions easier
“As an industry we’re just scratching the surface of how powerful eCommerce can be when it’s combined with the massive scale offered by the growing digital ecosystem, in the country” said Well.pk Chief Executive Officer Furquan Kidwai. “Having the financial support and across the board synergies within the Planet N Group will help us execute our vision even more rapidly and broadly – and with the benefit of experience, perspective and relationships of leading investors.”