One Pakistani startup is breaking new ground with its innovative business model and attracting the attention of international investors.
LOKAL is a ground-breaking hospitality startup on a mission to democratize access to local travel and communities. International investors recently provided pre-seed funding to the company, which will be used to fuel its growth and expansion plans.
Currently, Lokal is focused on expanding its operations within Pakistan, with plans to later expand to other emerging markets in the MENA and Southeast Asia regions.
Lokal is solving the foremost issue faced by most travelers: the lack of safe, reliable, and affordable accommodation in emerging markets.
With luxury chains out of budget, and booking platforms having no control on the actual staying experience, finding a quality budget accommodation is a real inhibitor to travelling locally in many of these markets.
To change this, Lokal is creating a network of standardized budget hotel rooms that offer travelers safe, reliable, and high-quality stays. Lokal appears to be ahead of the curve with a business model focused on unit positive economics rather than rapid growth at all cost.
The founding team, drawing on their leadership experiences at companies such as Procter & Gamble and Coca-Cola, chose to pursue a sustainable approach to growth, which has caught the attention of investors seeking to fund startups with a clear path to profitability.
