Iraq-based q-commerce startup Padash has secured $125,000 in pre-seed funding from an undisclosed angel investor. Launched in 2023 by Ahmed Jamal, Omer Sabah, Muhammed Yassein, and Ahmed Bayiz, Padash operates as an instant food and grocery delivery platform. The newly acquired funding will support the company’s plans to expand its services across Erbil, located in the Kurdistan Region of Iraq, and further enhance its mobile app.
Padash aims to revolutionize the Iraqi delivery landscape by offering swift grocery and food delivery services through its app, with delivery times ranging from under 20 minutes to as fast as 5 minutes. The company has already begun operations in four blocks within Erbil, with ambitions to extend its coverage to the majority of the city.
This funding represents the seventh investment in an Iraqi startup this year, nearly doubling the number of investments from 2023. It marks a pivotal moment for Padash, as the company sets out to meet the increasing demand for fast and reliable delivery services. According to co-founder and CEO Ahmed Jamal, the company also aims to make its services 50% more affordable, ensuring broader access to its convenient delivery solutions.
Looking ahead, Padash plans to refine its mobile app to improve the user experience and streamline ordering, with the ultimate goal of launching in Baghdad next year. This follows the founding team’s previous venture, Kurdivia, a live-trivia gaming app that achieved 1.5 million downloads and 750,000 monthly active users before it shut down due to business model challenges.
Jamal reflects on the lessons learned from their earlier project, noting that Padash is positioned to address a genuine market need, informed by their prior experience working with over 100 restaurants, cafes, and supermarkets. With this new investment, the team is confident in their ability to make a meaningful impact on the daily lives of people in Erbil and eventually expand across Iraq.
Discover the State of Funding in MENA – 2019 to 2023 :
https://assiyaq.com/the-state-of-startup-funding-in-mena-2024-report/ of this month is taking you through the ups and downs of MENA’s startup funding over the last 5 years. If you’re a startup founder, an investor or an ecosystem builder, this is your chance to learn from the past, spot the trends, and write your own success story.
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