Cheetay, one of Pakistan’s fastest growing tech-enabled last-mile logistics company, has appointed Majid Khan as the CEO of the company.
Based in Lahore, Majid is a graduate of Stanford University and has been working in the U.S. for the past two decades, with a successful career investing in public and private companies globally. Recently, he was a founding Principal at Tourbillon Capital, a $4 billion hedge fund in New York.
Ahmed Khan, the founder of Cheetay and former CEO of Daraz.pk, commented,
We are very excited to have Majid join the team full-time. Majid and I came up with the idea for Cheetay in a coffee shop three years ago and since then I have been trying to get him to give up his investment career in the U.S. and focus on the start-up space in Pakistan. I am happy to announce that he has now committed to joining full-time to help take Cheetay to the next level. Aside from his investing acumen, Majid has successfully built teams in many effective, young organizations and brings with him international fundraising expertise that is critical for start-ups.
Majid Khan says,
I am excited to join Cheetay full-time as CEO. Logistics is one of the key enablers of e-commerce and providing a fast, trackable, tech-enabled service is a large unmet need and represents an enormous opportunity in Pakistan. I could not be more enthusiastic to be returning home at such an exciting time in Pakistan’s evolution in technology and entrepreneurship. We have one of the world’s largest untapped talent pools in a young and dynamic economy and the prospects for Cheetay are fantastic.
“I am so proud to be associated with a company that is already such a local success story. It is a credit to the team. The entire tech stack at Cheetay was developed locally, – it is truly ‘Pakistan’s start-up!’” Majid Khan continued,
And incidentally, Cheetay has achieved these milestones while competing with multi-billion-dollar public companies based out of the U.S., Europe, and China. The first order of business for us is to prove that a home-grown Pakistani company can compete with these global players and win.”
When asked about the fundraising environment in Pakistan, Majid Khan stated,
The one thing that Pakistan has lacked thus far is access to funding. Indian venture capital investment was 10 times higher in 2018 at $5 billion, than has been invested in Pakistan over the last 10 years. So, they are investing 100 times more than us. This is why entrepreneurship and technology are booming in India. There is no reason, we in Pakistan cannot achieve the same. I am confident that Cheetay can raise the magnitude of international funding that will help us rival any competitor.