ezWiFi has announced a six-figure pre-seed funding round led by Iffi Wahla, Managing Partner of US-based E42 Ventures, according to a press release issued by the company.
Angel investors, such as the Former Minister of State and Chairman Board of Investment of Pakistan and Founder and Managing Partner Neem Exponential, Naeem Zamindar, also participated in the round.
ezWiFi, a Pakistani startup, aims to build a sharing economy for WiFi by enabling brick-and-mortar stores to make money by offering free WiFi services to their customers.
Founder and CEO ezWiFi, Sher Ali Khan, commented, “ezWiFi is a purpose-driven company. We are on a mission to connect the next billion and this funding round is an important milestone in our journey. With it, we have the resources to turbo-charge our growth and build a superstar team.”
On the development, Managing Partner E42 Venture, Iffi Wala, stated, “We are looking to build our presence in Pakistan as we see tremendous potential in what is still a nascent startup ecosystem. ezWiFi has us excited because it offers an opportunity to connect the masses to high-speed internet while providing value to businesses. With the right investment, not just capital, but with people and infrastructure, we believe ezWiFi has the capability to not only capture the local market but go global, and E42 is delighted to be a part of the process.”
Founder and Managing Partner Neem Exponential, Naeem Zamindar, also commented, “I love Sher’s vision and how he has created a business model and technology platform that has the potential to enable a billion users with access to the internet but also enable restaurants, retailers, etc., to digitalize their businesses, marketing, and finances over time.”
Established in 2021, ezWiFi is providing free WiFi to more than 100 restaurants across Pakistan, including international brands such as The Coffee Bean & Tea Leaf and Second Cup. The startup has also partnered with Unilever, L’Oreal, and Jazz to provide its services at supermarkets, events, and public areas.
It offers businesses an opportunity to make money with a mobile and web application, where they can easily view analytics, run promotions, build customer lists, collect feedback and manage multiple locations.
ezWiFi is currently in the process of scaling up operations across Pakistan and hiring for multiple positions. After capturing the Pakistani market, the startup plans to expand into other markets in Africa, South Asia, and the GCC.