OkayKer, the leading provider of on-demand vehicle maintenance services, is thrilled to announce that it has successfully raised $700,000 in funding from a group of local and international investors despite challenging economic conditions in the country. This investment helps Okayker reach new heights, enabling the business to increase service capacity, enhance tech capabilities, meet increasing consumer demands, and provide top-notch services to customers..
Founded back in 2021, OkayKer is a tech enabled platform revolutionizing the auto care industry in Pakistan. With an impressive track record of fixing more than 10,000 vehicles and resolving over 25,000 autocare issues through partner workshops and retailers, Okayker is focused on fixing auto care for 32 million vehicle owners across Pakistan.
Recognizing the need for convenience, transparency and reliability in the local auto repair market, OkayKer is redefining the customer experience. Through our seamless digital platform, customers can conveniently place orders and book quality vehicle care services, eliminating the hassle and inefficiencies with traditional autocare.
“A vehicle owner on average wastes 40 productive hours annually on repair and maintenance. People want convenience, transparency, and reliability, especially with regards to their cars which is understandable since it's an expensive asset to own now,” says Anusha Shahid, co-founder of OkayKer. “This is exactly what we at Okayker provide in terms of at-home auto care servicing and what we believe to be our competitive advantage along with our tech to disrupt the auto care industry.”
Faizan Khan from FRIM Ventures who joined Okayker on this journey emphasizes the value of enhanced transparency and control for customers, “The autocare space is highly fragmented with immense information asymmetry. Okayker aims to solve this problem.. While having a disruptive business model, Okayker's financial plan charts a clear path to profitability which is critical for a viable and sustainable business model.“ .
Moreover, with current investment, OkayKer plans to enter new cities by providing at-home services for the customers. This will allow Okayker to acquire new customers and establish a broader customer base, while also gaining access to new markets. Our next phase of growth involves launching car care services in Lahore, Islamabad and Rawalpindi, bringing unparalleled convenience directly to the customers’ doorsteps.
“With new cars becoming more and more expensive, OkayKer is solving a major pain point for car owners while bringing transparency and digitization to an archaic auto repair ecosystem,” said Mohammad Sameja from Sabr Capital who has invested in Okayker.
Okayker aims to empower 100,000+ automotive workshops and retailers to streamline their operations, procure spare parts and record transactions.
Nashit Naviwala, founder of OkayKer expressed the importance of revolutionizing the auto care industry. “My family has been involved in the automotive industry for the past 40 years, so I understand the challenges it entails. Majority of the players in this industry still operate on pen and paper. Our goal is to revolutionize the automotive sector by using digital solutions and focusing on educating customers. We want to create a platform where people can easily access reliable information about car parts and services, so they can make informed decisions.”
“We're delighted to be backing OkayKer as our first Pakistan-based startup. We really liked the go-getter attitude of the team and look forward to the journey!” said, Ibrahim Khan, Cofounder Cur8 Capital who have joined Okayker on the mission of fixing autocare and believe in the vision of the team along with Orbit Startups, FRIM Ventures, Sabr Capital and angels from the region.
Amidst the economic crisis and the ongoing prevalent issues faced by customers, who often fall victim to exploitation and financial loss at the hands of mechanics and car dealers, OkayKer has emerged with a mission to revolutionize the auto care sector. Nashit further added, “A customer spends 50% more than they should on vehicle repair and maintenance simply due to lack of reliable information. By promoting transparency and providing mechanics with better knowledge, we hope to establish a culture of professionalism and trust. We plan to build technology for onboard diagnostic devices which will serve as a Fitbit for any vehicle.”
With a strong technological foundation, the possibilities are endless for Okayker. OkayKer envisions partnering with major lubricant brands, launch of the Okayker Emergency Services, and offering of comprehensive motor insurance policies.
Click here to read further:
https://www.brecorder.com/news/40245444
https://www.thenews.com.pk/print/1076170-automotive-startup-okayker-raises-700-000-in-seed-funding
https://www.dawn.com/news/1755935
https://propakistani.pk/2023/06/01/auto-care-startup-okayker-raises-0-7-million-funding/amp/
https://insights.datadarbar.io/autotech-startup-okayker-raises-700k/
https://founderpakistan.com/pakistans-okayker-bags-700k-in-seed-funding/?amp=1
