Lahore-based apparel e-commerce retailer and marketplace Clicky has secured $2.3 million in a pre-Series A round funded by UAE and Pakistani early-stage investors, which include Tricap Investments, Asif Keshodia, UAE-based CSHL, Careem executives, and a few more UAE-based angel investors.
The latest investment complements the startup’s earlier $700,000 funding round in December 2020. Since then, the business has grown by more than 20 percent on a month-over-month basis, and has more than quadrupled its revenue in less than a year, fueled by its private labels and curated fashion outlets.
Clicky’s earlier rounds were funded by Fatima Ventures and Souq (acquired by Amazon in 2017).
The e-commerce retailer is a fast-fashion brand founded in 2016 by Muhammad Khalid and Syed Shahzad that focuses on garments, footwear, and accessories. The e-commerce platform works with diverse local manufacturers, international brands, and white labels.
Commenting on their vision for the future, Khalid and Shahzad said,
Our investors have shown great confidence in us and the Pakistani e-commerce landscape. We are tapping a massive opportunity in fashion retail, and are excited to support local manufacturers for our private labels and also introduce international brands to provide a high-quality experience to our customers. We believe things have moved from fast fashion to ultra-fast fashion. Therefore, we are aiming to empower local manufacturers, designers, and third-party labels with the necessary technology and working capital support to capture this massive potential. These are great times working with local manufactures and creating value.
Suleman Soorani of Partner Tricap Investments remarked,
We are happy to become part of Clicky’s journey to create Pakistan’s largest fashion e-commerce platform. We are particularly impressed with Khalid and Shahzad’s perseverance, ambition, grit, and eagerness to learn and believe they have all the qualities to make Clicky one of the largest technology success stories out of Pakistan and a major disruptive force in the fashion retail and e-commerce space.
Clicky’s major goal is to improve customer experience by implementing cutting-edge deliveries, returns, and replacement processes to boost online shopping confidence. A portion of the prior investment was also used to establish and upgrade fulfillment centers around Pakistan, hence enhancing its customer experience. Clicky currently has a warehouse fulfillment center of 25,000 sq ft, one of the largest in the country.
Clicky will expand its product categories and add 3000-5000 new stock-keeping units (SKUs) per month, giving its customers access to a diverse range of designs. It aspires to provide clients in Pakistan with the same customer experience and design assortment as online fashion destinations such as Asos in the United Kingdom, Net-A-Porter in France, Zalando in Germany, and Namshi in the Middle East.
