# Smartchoice.pk

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/smartchoice-pk

- Industry: Consumer Services
- Headquarters: Karachi, Pakistan
- Website: www.smartchoice.pk
- Total disclosed funding: $0.1M
- Latest round: Seed (Apr 9, 2021)
- Investors on record: 3

## About

Based in Karachi, Pakistan, Smartchoice.pk is an innovative insurance platform that facilitates the comparison and purchase of a wide array of insurance products, including travel, car, bike, and health insurance.Founded in 2015 in Karachi, Pakistan, Smartchoice.pk operates as an insurance platform enabling users to compare and purchase insurance products. The company was established by Ammar Faheem and Hunain Kapadia and is headed by CEO Sibtain Jiwani. In April 2021, Smartchoice.pk raised USD 100,000 in a Seed funding round led by Oman Technology Fund, totaling USD 100,000 raised to date. The company has completed five deals since its inception.Smartchoice.pk is a prominent insurance platform in Pakistan, specializing in the comparison and purchase of a diverse range of insurance products, including travel, car, bike, and health insurance. The company provides users with a comprehensive selection of both conventional and takaful plans, catering to various insurance needs. Smartchoice partners with over 15 leading insurance providers in Pakistan, allowing customers to efficiently compare policies and choose the most suitable options for their individual circumstances. The platform is designed to serve a wide customer base, including travelers, vehicle owners, and families seeking health coverage. Users can access these products online, streamlining the process of obtaining insurance coverage across the country.Smartchoice.pk operates on a commission-based revenue model, generating income primarily through partnerships with various insurance providers. The company facilitates transactions between consumers and insurers without charging customers directly for its services. Customers can purchase insurance policies via the platform, which features transparent pricing and no hidden fees, ensuring that the costs presented are the official rates of the partner companies. In this structure, Smartchoice acts as an intermediary, connecting clients to insurance products ranging from travel and auto insurance to health plans, while leveraging the competitive rates negotiated with their partners to attract users. This model emphasizes convenience and efficiency, allowing consumers to secure their desired coverage quickly and effectively.Following the Seed funding round in April 2021, Smartchoice.pk plans to leverage its recent funding to enhance its platform and expand its product offerings. The company is actively designing new insurance products tailored to meet the evolving needs of customers. Additionally, Smartchoice.pk has outlined plans for geographic expansion, targeting new regions within Pakistan to broaden its market reach. These initiatives aim to improve user experience and increase accessibility to insurance solutions across the nation.

## Funding rounds

- Seed, Apr 9, 2021 — SOSV, MOX
- Seed, Mar 21, 2019, $0.1M — Oman Technology Fund

## Investors

- Oman Technology Fund (https://capitalatlas.ai/funds/oman-technology-fund) — Seed
- SOSV (https://capitalatlas.ai/funds/sosv) — Seed
- MOX — Seed