Pakistan’s cashback startup Savyour to completely shutter operations
- Sara Habib
- March 6, 2025
- 11:51 am
- 117
- Business
Savyour, Pakistan’s only cashback fintech startup, has announced its closure. The decision was confirmed by one of its co-founders. The company did not provide a reason but stated that the plan to shut down was made a year ago. Over the past 12 months, the team worked on ensuring a smooth transition.
A Brief Journey of Savyour
Launched in August 2020, Savyour aimed to revolutionize Pakistan’s eCommerce sector. It introduced an innovative cashback model at a time when such concepts were rare in the country. The startup created an app and a pay-per-sale affiliate marketing network. This allowed users to earn cashback by shopping with brands like Daraz, foodpanda, and Bata.
How the Cashback Model Worked
Savyour partnered with eCommerce brands and acted as an intermediary. It earned commissions from these brands and returned a portion of the earnings to customers as cashback. This approach was popular, especially during the pandemic when online shopping grew rapidly. Some rewards were as high as 20% of the purchase amount.
Early Success and Growth
The startup gained quick traction. It signed over 250 partner brands and processed more than 200,000 orders. Investors saw its potential, leading to a $3.3 million seed funding round. Investors included Global Founders Capital, Zayn Capital, and Fatima Gobi Ventures. Savyour also distributed over Rs400 million in cashback to 4 million customers across Pakistan.
Challenges Faced by Savyour
Despite its early achievements, Savyour faced several challenges:
Sustaining Long-Term Demand: Unlike mature markets like the US and Japan, Pakistan’s eCommerce industry is still growing. Consumer behavior has yet to fully adopt cashback models.
Economic Pressures: Inflation and economic instability made it difficult for cashback platforms to retain users.
Competition from BNPL Services: Buy Now, Pay Later (BNPL) services offered flexible payment options, attracting customers away from cashback platforms.
The End of Savyour’s Journey
After internal restructuring and brainstorming, the company decided to close. The announcement marked the end of an ambitious journey. While Savyour introduced a unique concept, sustaining long-term growth in Pakistan’s evolving eCommerce market proved difficult. The rise of new fintech models and economic challenges made survival harder.
Investopedia – How Cashback Business Models Work
TechCrunch – Fintech Trends in Emerging Markets
Global eCommerce Insights – The Future of Cashback Platforms
