Singapore-based home services startup Helpp Technologies has successfully raised $1.1 million in its first investment round dedicated to the Pakistani market.
Singapore-based home services startup Helpp Technologies has successfully raised $1.1 million in its first investment round dedicated to the Pakistani market.
The funding round saw support from high-net-worth investors in Saudi Arabia and the United States, including backing from E Planet Global, Shahyan Merchant Chairman You Ventures, Saudi investor Turki Al Shehri, J Holding Pakistan, and other prominent individual high-net-worth and business executives from the US, UK, and Saudi Arabia.
Mustafa Iqbal, the founding CEO of Helpp Technologies, shared that the funds from this investment round would be utilized for customer acquisition and the enhancement of their tech stack.
The CEO emphasized that the funding was significantly backed by Saudi high-net-worth investors. Helpp Technologies aims to provide on-demand salon, laundry, paint, and air conditioning services in major Pakistani cities, starting with Karachi and Lahore.
Having launched operations in 2021, Singapore-based home services startup, Helpp Technologies positioned itself as Pakistan’s first fully tech-enabled player in the home services market, successfully fulfilling over 20,000 orders to date.
Despite being a multibillion-dollar industry, Pakistan’s home services are largely served by micro-offline players, leading to low customer satisfaction due to the absence of standardized services and pricing.
Helpp Technologies aims to digitize this space, addressing the pain points of consumers while also uplifting the incomes of service providers. The startup’s impact includes providing economic opportunities, income elevation, and financial inclusion, with a significant focus on empowering women who make up the majority of its service providers.
Mustafa Iqbal stated that the objective is to build a budget-friendly brand catering to the masses while maintaining a strong focus on customer experience and the economic empowerment of service partners. He noted that Pakistan’s home service market is ready for a nationwide tech player, following the success seen in ride-hailing, food delivery, grocery, and e-commerce.
Highlighting the alignment with UN sustainable development goals, Iqbal emphasized that Helpp Technologies contributes to the targets for 2030.
The startup’s initiatives reflect a broader trend of Pakistani startups gaining global attention, with around $375 million raised in 2021 and continued funding in 2023. The cumulative funding for Pakistani startups in the first nine months of 2023 reached $33.6 million, showcasing sustained interest and growth in the country’s burgeoning startup ecosystem.