PriceOye.pk raised $7.9 million in seed funding to enhance its position as a leading eCommerce platform for consumer electronics in Pakistan.

Information on the Target

PriceOye.pk, founded by Adnan Shaffi and Adeel Shaffi, is a prominent managed marketplace in Pakistan specializing in consumer electronics. With a proprietary product recommendation engine, PriceOye facilitates informed purchasing decisions by asking users tailored questions to match their needs with suitable products. This innovative approach has attracted over 2 million monthly users, drawn by the platform's ability to enhance the shopping experience.

The platform has achieved remarkable growth, reporting a 500% increase in revenue year-over-year, solidifying its status as a leading player in the B2C eCommerce sector. New funding will allow PriceOye to expand its product offerings, enhance its recommendation system, and strengthen its partner network, further entrenching its market position.

Industry Overview in Pakistan

Pakistan's consumer electronics market, estimated at $8.5 billion in 2020, has exhibited a compound annual growth rate of 7.1% from 2016 to 2020. Despite this growth, the market is largely offline, leading to a fragmented buyin