According to a press release issued by the company, ezWiFi has announced a six-figure pre-seed funding round led by Iffi Wahla, Managing Partner of US-based E42 Ventures.
Former Minister of State and Chairman Board of Investment of Pakistan, Naeem Zamindar, and Founder and Managing Partner Neem Exponential, also participated in the round.
ezWiFi, a Pakistani startup, aims to create a WiFi sharing economy by allowing brick-and-mortar stores to earn money by providing free WiFi to their customers.
Sher Ali Khan, ezWiFi’s founder and CEO, stated, “ezWiFi is a purpose-driven company.” We are on a mission to connect the next billion people, and this funding round is a significant step in that direction. We now have the resources to accelerate our growth and build a world-class team.”
Iffi Wala, Managing Partner at E42 Venture, commented on the news, saying, “We are looking to build our presence in Pakistan as we see tremendous potential in what is still a nascent startup ecosystem.” We’re excited about ezWiFi because it provides a way to connect the masses to high-speed internet while also providing value to businesses. We believe that with the right investment, not just in capital but also in people and infrastructure, ezWiFi has the potential to not only capture the local market but also to go global, and E42 is excited to be a part of the process.”
“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,” said Naeem Zamindar, Founder and Managing Partner of Neem Exponential.
ezWiFi, which was founded in 2021, provides free WiFi to over 100 restaurants in Pakistan, including international brands such as The Coffee Bean & Tea Leaf and Second Cup. In addition, the startup has collaborated with Unilever, L’Oreal, and Jazz to offer its services in supermarkets, events, and public spaces.
It provides businesses with a mobile and web application that allows them to easily view analytics, run promotions, build customer lists, collect feedback, and manage multiple locations.
ezWiFi is currently expanding its operations across Pakistan and hiring for a variety of positions. After conquering the Pakistani market, the startup intends to expand into other African, South Asian, and Gulf Cooperation Council (GCC) markets.