Sastodeal, an online shopping store of Nepal, has recently got funded by Dolma Impact Fund. The investors said that they were impressed by the growth of Sastodeal; in the last quarter, they had 233% growth in the company.
What they are saying:
- According to Amun Thapa, founder of Sastodeal, most vendors and customers had little or no knowledge about online shopping in the beginning. They along with other collaborators from the industry had to work hard to educate the market, and now they feel that online shopping will be a trending culture in Nepal.
- “If Sastodeal can grow at 233 percent in the last quarter without us, imagine the future with Dolma’s capital and contacts,” said Shabda Gyawali, senior investment manager at Dolma.
The Details:
- At the moment, e-commerce is still not a major part of the Nepali market, therefore it has a lot of room to grow.
- Sastodeal, established in 2011, offers 24,000 different types of products from 500 brands at the moment. They claim to be making express deliveries in Kathmandu within two hours of order. The site has many users and around 800,000 social media followers.
Backstory:
- Dolma Impact Fund and SastoDeal had signed a Memorandum of Understanding earlier this year regarding the funding.
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