Funding Lead

Frontier Digital Ventures, a digital investment firm headquartered in Malaysia, has invested US$3.5 million in PakWheels.com, Pakistan-based automotive website.

PakWheels.com is a portal to buy and sell cars and motorcycles, read automotive reviews and news, check automotive prices and find solutions to users’ automotive needs. Auto enthusiasts also share videos, photos and have discussions with each other via the platform.

“PakWheels.com epitomises the kind of business that Frontier Digital Ventures is seeking to invest in. We love frontier and emerging markets and have a wealth of expertise and a proven track record of extracting value in the opportunities these markets present, so we are really looking forward to working with the team to take the portal to its full potential,” said Shaun Di Gregorio, Founder and CEO, Frontier Digital Ventures.

Frontier will utilise its resources and expertise to solidify PakWheels.com’s dominance in the market, while providing critical strategic and operational support to continue to grow the business.

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“As market dynamics are constantly changing, the need for early-stage businesses to equip themselves with the right tools to accelerate their growth has never been more crucial. Frontier Digital Ventures provides exactly that,” said Di Gregorio.

PakWheels.com is the second deal announced by the firm in Pakistan, following its maiden investment in Zameen.com.

On asking why he is bullish on Pakistan, Di Gregotio shared, “We are bullish on Pakistan as it is home to more than 180 million people and is expanding its economy rapidly with an emerging middle class. Consumer access to technology and increased internet accessibility means websites like PakWheels and Zameen.com are growing rapidly as demand for cars and houses takes off.”

Frontier Digital Ventures is targeting up to 30 investments in disruptive digital businesses with a mandate over 50 potential markets across the region including Central and South America, Middle East and North Africa, Southern Africa, South Asia, etc.

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