Bridge Linx Raises $10 Million In Pakistan's Largest Seed Funding

 

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Lahore-based digital freight marketplace Bridge Linx Technologies has successfully raised $10 million in the country’s largest seed round. It is one of the largest seed rounds of the region led by Harry Stebbings’ 20 VC, Josh Buckley’s Buckley Ventures, and Indus Valley Capital.

It is interesting to note that startups in Pakistan are successful in raising fundings in B2B space. First, it was Airlift who raised $85 Million for its quick commerce startup, and now Bridge Linx, a digital freight market connecting shippers, manufacturers, companies with private fleets.

 

Bridge Linx Tech is helping Pakistan’s biggest shippers move thousands of loads per week on the country’s fastest-growing freight marketplace. Founded in 2020 by Muhammad Saad, Ahsan Tanveer, Abbas Hassan, and Salman Gul, Bridge Linx is helping large manufacturers and retailers, move freight by connecting them with carriers (truckers, owner-operators, transporters, and private fleets) through its online marketplace.

.As a digital freight network start-up, it is solving problems related to freight inefficiencies by bringing innovation into it. The startup is providing around-the-clock assistance to ensure that businesses never have to worry about freight.

Bridge Linx plans to use the funds to consolidate its position as a market leader by broadening its product stack and expanding across additional verticals, segments, and lanes. 

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Institute Of Chartered Accountants Of Pakistan (ICAP) Organized CFO Conference 2021

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Mr. Iftikhar Taj Mia, FCA, President, Institute of Chartered Accountants of Pakistan, welcomed the international and national audiences and gave his welcoming remarks at the CFO Conference 2021 organized by ICAP. He added that  ICAP is the premier body of Pakistan, recognized throughout the world.

It was emphasized that finance leaders should keep the Global Dimension, Digital Transformation, Green Economy while formulating new strategies. While sharing his views about the "Global Dimension Trends and CFO insights", Joerg Steinhaeuser said that around 850 million people still do not have access to sustainable electricity.

Mr. Reza Baqir, Governor, State Bank Of Pakistan and Alan Johnson, President, International Federation of Accountants (IFAC) shared their opinion at the CFO Conference 2021 as prominent speakers of the event.

The 'Economic Dimension - The Future of Developing Countries' was discussed by State Bank Of Pakistan Governor Dr. Reza Baqir who appreciated the contribution of ICAP towards Pakistan's economy, said,

“The pandemic has pressed the reboot button of economies globally with long-lasting impacts including lower investment, erosion of human capital to lower productivity, limited income growth and structural transformation in countries across the world”.

During Pandemic, we need more energetic solutions. The Finance profession needs more short and long-term solutions. Alan Johnson IFCA, President shared his views at the CFO Conference 2021. Mr.Alan Johnson talked about the Global Dimension – Anticipation and preparation for the Next uncertainty.

“In this new decade, technological advancements have the capability to redefine economic activities and government services. Daily life and businesses are increasingly becoming digital and the pandemic has greatly accelerated this trend,” he added.  

Micro enterprises and startups create jobs, Pakistan and ICAP are capable to succeed in the new digitalization era, said Johnson.

Sultan of Swing, Wasim Akram was also the part of CFO Conference 2021 organized by ICAP. He attended the session 'Winning With Wasim Akram'.

The "Entrepreneurial Dimension: Nurturing & Sustaining the Startup Industry'' was applauded for its much to-the-point subject.

Legendary writer and host Zia Mohyeddin also attended the session 'Rekhta with the Legend' at the CFO Conference 2021 with the theme 𝗖𝗙𝗢 𝗶𝗻 𝘁𝗵𝗲 𝗪𝗼𝗿𝗹𝗱 𝟮.𝟬 - 𝟯𝟲𝟬° 𝗣𝗲𝗿𝘀𝗽𝗲𝗰𝘁𝗶𝘃𝗲.

With the participation of over 9,000 participants, business leaders and finance professionals, twenty CFO Conferences have been held across the country.  The CFO conference is a platform for professionals to share their expertise, build knowledge and network with other business community members.  It is very interesting to know that the Institute #ICAP has organized two Middle East CFO Conferences in Dubai during 2015 and 2016.

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Pakistani Entrepreneur Will Tell You How To Earn Money Through Amazon

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The founder of Extreme Commerce, Sunny Ali is determined to create entrepreneurs and experts in e-commerce, mostly related to global e-commerce platforms such as Amazon, PayPal, eBay, and Shopify. 

Although these platforms are not available in Pakistan, but, Ali’s vision is to make his country the influential leading hub and backend office of e-commerce that can generate one billion Dollars for Pakistan. With his hard work and strength of mind, he has managed to empower thousands of young entrepreneurs to make money off Amazon in just the last 2 years. He has successfully created the self-sustained e-commerce Ecosystem for Pakistanis during two years.

Ali claims that around one billion US dollar per annum in sales from Amazon.com can be added into Pakistan’s economy, only if we empower our youth to be entrepreneurs who can set up online accounts on Amazon and start selling their products.

Through his Extreme Commerce platform, Ali has created a substantial entrepreneurship movement in Pakistan by empowering the young generation to become financially independent. He motivates people to only invest in Amazon FBA (Fulfillment by Amazon) if they want to be a future millionaire. 

Sunny Ali is the founder and CEO of Net Solutions United States, United Kingdom, Malaysia and Pakistan. He specializes in Wealth creation through Ecommerce on Amazon assets. He is conducting seminars in six cities including Karachi and Islamabad. He will talk about how to build e-commerce business on Amazon from Pakistan. Understanding Individual Tax ID & Corporate Tax ID. What to sell? Identify a Niche, Competition, Demand & Supply. Understanding Selling on Amazon & Ebay.

Ali’s goal is to empower at least 10,000 youth and assist them to become financially independent by using the Amazon platform so that they can serve Pakistan by bringing USD dollar currency into Pakistani banking system.

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Swvl, An App-Based Bus Hailing Service Launched In Karachi

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The Egyptian firm expands its operations further in Pakistan and launched its services in metropolitan city Karachi. 

Swvl is the first of its kind app-based bus hailing innovator, announced an investment of $25 million in Pakistan by mobilizing half a million Pakistanis by 2023. The investment plan will create around ten thousand jobs a year. 

After the successful launch in Lahore, Islamabad and Rawalpindi, the new bus service expands its services for another big city, Karachi. At the moment, the country's largest city has the meager infrastructure and deteriorating public service facilities from the government. So, the Swvl will be welcomed by Karachiites as it will provide comfortable and safe transport at an affordable price. 

The Swvl is also planning to start an incubator to fund pre-seed startups to kickstart a healthy tech ecosystem in Pakistan. Moreover, the company plans to open an offshore support and engineering office in Pakistan. 

The bus-hailing service, Swvl claims to be a convenient, reliable and affordable transport solution with an aim to revolutionize people's lifestyles including transportation by running busses on fixed routes that users can book seats in through the Swvl app.   

Swvl provides an air-conditioned top-notch bus hailing service for just Rs20 through its app which uses the person’s location and destination to determine the shortest possible trip time based on the nearest bus stop. 

The Swvl app is now available for both the android and ios app users. SWVL also aims to give women a safe and comfortable ride and enable women to reclaim public space by mobilizing them through safe and sound travel options.

Mostafa Kandil,  the founder of Swvl said, "We are also planning to start an incubator to fund pre-seed startups to kickstart a healthy tech ecosystem in Pakistan. Moreover, the company plans to open an offshore support and engineering office in Pakistan.”  

“Currently we have introduced 13- and 22-seater vans and Coasters but it doesn’t end here. The buses and vehicles would grow gradually as well as their capacity. We have close to 100 routes in Karachi alone,” said Shahzeb Memon of Swvl Pakistan. 

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Follow These Routes To Increase Your Income

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How would you manage yourself if your paycheck was suddenly cut-off? Maybe your boss was laying off people or the company decided to hire someone more ‘qualified’. Instead of getting depressed and shutting out completely which has become the norm let’s talk about increasing the sums that we can earn when we can. You may have a hectic job routine that pays good enough or a business that is climbing it’s way up slowly and is demanding a lot of attention. But there are a lot ways of earning of ‘supplementing’ your income from your day job both passively and actively.

Let’s start with the active ones. Active route of incomes require time and mindful investment.

1. Teach a few students in your vicinity: If you have a grip on a specific subject, offer it as tuition to students. It could be music, languages or a proper school course. Give it one to two hours of your time and see the income grow.

2. Freelance your skills: If you are a graphic designer, a video maker or have learnt how to write story books but your day job isn’t any of these find connections who will help you with freelance work. Online portals have too much competition with lower rates so you have the offline world open to quote your own rates and show your quality.

3. Start a small business of selling products: you can help a friend source the products for you and start marketing it till they are completely sold and then restock. The profit is up to you to keep or re-invest. You could also start a small business of creative handiwork that you can easily do after your day job. This will make your work pretty unique and you will be able to charge as you wish.

Passive routes of income are built once you have established your active routes of income. These routes do not require your intervention but do need your supervision from time to time.

1. Investment in stocks: Buy stocks and let them sit. The dividends will accrue in to your account over time and all you need to do is check the statement once every 3-6 months. This passive income however is doing two things for you. Saving the invested amount and giving you profit over and above that.

2. Invest in real estate: Just like above, investing in real estate and earning a running income from that doesn’t require a lot of daily hassles. However, if you can not own real estate, you may consider putting up a room on AirBnB or Couchsurfing. This will prove to be an additional passive income source.

3. Income from fixed deposits/ bank accounts: This one is fairly easy. You put money in your bank and they pay you a fixed amount each month. You don’t need to worry when it is going to come. You know it will come and you just collect it.

Both these ‘supplements’ to income - active and passive; add to your income while most passive ones grow  your wealth also. How does that make your money look in the long-run?

Imagine you earn Rs. 30,000/- from your day job and you decide to take up teaching for an additional Rs. 20,000/- per month. That brings the total to Rs. 50,000/-

You decide to put Rs. 25,000/- in the stock market. Considering a company that gives out dividends every 3 months at 9%, the company pays Rs. 9 for every Rs. 100 invested, which is Rs. 2250/- per three months. For a year that is Rs. 9,000/-

Your annual earnings for the year is (50,000*11) 550,000+25,000=575,000

Add to that the dividend of Rs.9,000 = 584,000/-

Plus you still have your initial Rs. 25,000/- that were invested in the market saved till year end.

Which is in stark difference of what could have been (30,000*12) 

Rs. 360,000/- only!

So would you employ a mix of active and passive streams of income to supplement your lifestyle or just carry-on with your day job?



Uroosa Kanwal writes on personal finance and is working on her own small idea to help bloggers. You can find more of her writings at Finance It Out!

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