Linkstar, an AI-powered web space that allows freelancers and influencers to sell Direct-to-Consumer (D2C) services, announced that it has raised $5 million in pre-seed funding.
SOSV, a US multi-stage venture capital firm with over $1.3 billion in assets under management, led the funding. SOSV has been investing in Pakistan for several years and was an early backer of startups like Dastgyr, Blink, 24Seven, and Priceoye.
Sarmayacar and K3 Diversity Ventures also participated in the funding round, according to the statement, which did not specify how much money was raised.
The startup, co-founded by Aizaz Nayyer, Adeel Abid, and Ali Raza Rizvi under the parent company Savvy Technologies, was launched in January 2022 and has over 15,000 users, according to the company.
“We want freelancers and influencers to be able to sell their services directly to customers without any communication barriers or commissions,” CEO and co-founder Aizaz Nayyer was quoted as saying.
“Think of it as a Shopify for freelancers and influencers with the added bonus of Discovery, which we will launch next month to enable businesses to match with the most relevant freelancers and influencers with just a few clicks,” he explained.
Meanwhile, another co-founder, Adeel Abid, stated, “We are changing the game of how people work online.” We return power to creators and service providers by eliminating middlemen, commissions, and restrictions.”
According to Invest2Innovate’s (i2i) deal flow update, Pakistan saw a drop in fundraising during the second quarter of the current calendar year (April-June 2022), raising a total of $103 million across 15 deals. On a quarterly basis, the amount was 40% lower.