Clicky.pk raises $700K Pre-Series A funding
Lahore-based fashion E-commerce startup, Clicky.pk, has closed a $700K Pre-Series A funding round. Former Amazon MENA Executive, Xiaomi Executives, and other angel investors participated in the round.
Founded in 2016 by Muhammad Khalid and Syed Shahzad, Clicky. pk is a Pakistani fashion-focused marketplace and retail startup. Having known each other for 15 years, the founders go back to the Manchester Business School and have extensive working experience in the Middle East.
The larger focus for Clicky. pk is to work directly with manufacturers and build private labels across diverse fashion categories. The new funds will be used to grow a team of fashion designers for home-grown labels. The fashion marketplace will also invest in logistics and the supply chain in four major cities of Pakistan, focusing on improving the customer experience. Two fulfillment centers will be based out of Lahore and Islamabad.
Pakistan’s e-commerce market value has crossed $1B, with fashion and apparel remaining one of the top three categories of e-commerce in the country. Search insights from Google also tell the popularity of women’s wear, with 89% of Pakistani consumers researching fashion products online before purchasing.
The country’s fashion industry is projected to grow its revenue by $5B in the next three years. Currently, 12% of the total market revenue in the fashion segment is generated through online sales. By 2023, e-commerce fashion sales are expected to grow by 18% across apparel, footwear, and fashion accessories.
