According to a news release published by the firm, ezWiFi has announced a six-figure pre-seed fundraising round led by Iffi Wahla, Managing Partner of US-based E42 Ventures.
Angel investors included Naeem Zamindar, the former Minister of State and Chairman of Pakistan’s Board of Investment, as well as the Founder and Managing Partner of Neem Exponential.
ezWiFi, a Pakistani startup, wants to create a WiFi sharing economy by allowing brick-and-mortar businesses to profit from providing free WiFi to their clients.
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 Wahla, 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.”
ezWiFi, which was founded in 2021, now provides free WiFi to over 100 eateries in Pakistan, including worldwide chains like The Coffee Bean & Tea Leaf and Second Cup. Unilever, L’Oreal, and Jazz have teamed with the startup to provide its services at supermarkets, events, and public spaces.
It provides a mobile and web application that allows businesses to make money by allowing them to simply examine analytics, run promotions, develop customer lists, collect feedback, and manage various locations.
ezWiFi is constantly expanding its operations across Pakistan and hiring for a variety of professions. The business intends to expand into additional regions in Africa, South Asia, and the Gulf Cooperation Council (GCC) after securing the Pakistani market.
To read our blog on Pakistan’s largest Pre-Seed funding is raised by Krave Mart, click here.