RepairDesk has secured seed funding from Anant Handa, CEO and Founder of Revamp Wholesale, who will also be joining the company to lead product strategy and marketing.
While numbers haven’t been disclosed, the valuation of the startup is in 8 figures in Pakistani rupees which makes it at least 10 million PKR.
Our hunch is that with a value of Rs. 10 million, the seed funding would be somewhere between 15 to 30 percent. In other words, RepairDesk might have raised anything between half a million rupees to Rs. 3 million.
Usman Butt founded RepairDesk in 2014 to offer cloud based point of sale and customer relationship management software, engineered specifically for small and medium sized cell phone repair shops that allow technicians to stay on top of inventory, track repairs, manage multiple outlets and make smart decisions based on detailed business reports.
It provides complete transparency at every stage, starting from the time the phone is initially dropped off for repair, to the time it is available for pickup for a deceptively large multi-billion dollar mobile repair industry.
RepairDesk boasts a portfolio of over 900 clients registered on its platform which is managed by a team of 9 employees based out of Lahore, Pakistan.
Talking about the investment, Usman Butt said that the funding is a gateway to great things for the future of the company. He further stated:
We are very excited to have gained the trust of the investors. We have worked tirelessly to build the product and gain substantial initial traction. The funding comes just in time when we needed it to scale the company and acquire new customers while serving the existing ones even better.
When asked about the deal details, Usman said that the funding sufficiently meets our growth, marketing and R&D objectives for the year, but more important than the funding amount and value of the company is the strategic fit with Revamp Wholesale which is a large US based supplier of mobile spare parts and accessories boasting over 8000 customers in 11 countries.
He added that the deal valued the company in 8 figures in PKR terms quite in line with comparable startup equity transactions taking place in the country.
After their graduation from LUMS Center for Entrepreneurship, team RepairDesk now operates through its office in Cavalry Ground, Lahore.