An investment fund named “Invest2Innovate” i2i ventures with a focus on Pakistan’s high-tech startups has announced the first investment in a Pakistani startup Mauqa Online.
The first of its kind female-founded institutional fund i2i ventures to invest in Pakistani entrepreneurs is co-founded by Pakistani-American social entrepreneur, Kalsoom Lakhani and fintech investing professional, Misbah Naqvi.
As its first investment, i2i Ventures leading a six-figure USD seed round in Mauqa Online, an Islamabad-based startup providing on-demand domestic services. Mouqa founded by husband-wife duo, Muhammad Mustafa and Suniya Saadullah Khan.
The amenities Mauqa Online provides through its mobile application, allows users to request and book on-demand domestic helpers (by hour or day) for different services including cleaning, cooking, dish-washing, babysitting and elderly care.
Suniya Saadulah Khan, co-founder of Mauqa Online, in a statement, said, “Mauqa is focused on building a high-growth business that’s also providing our community of domestic-helpers with the opportunity to improve their quality of life.”
“We are fortunate to have had Kalsoom as a mentor and we’re excited to have the financial support of a value-driven fund like i2i Ventures, which will help us scale our business across Pakistan and engage additional partners”, she added.
Muhammad Mustafa stated that they have served over 3,000 customers with 40,000+ hours of services provided to customers in the town city Islamabad and Rawalpindi.
Considering the investment, Kalsoom Lakhani said,
“We are excited to make our first investment in Mauqa Online, a business with tremendous market potential, an innovative business approach and incredibly dynamic co-founders, Suniya and Mustafa. We look forward to supporting them as they expand their offering throughout Pakistan.”