29th April 2021, Kathmandu
IME Group – Nepal’s leading business conglomerates have now entered into an agreement with Nepal’s e-commerce market Sastodeal.
IME Group proposed to make a significant investment in Sastodeal – one of the country’s top e-commerce sites. Sastodeal has decided to accept the group’s seed investment on April 22nd.
On the occasion, Hem Raj Dhakal, Cofounder and Managing Director of IME Group, said that IME Group has witnessed Sastodeal grow from a humble startup to become a household name in Nepal.
We made the decision to invest in the business because of their exceptional team, brand, historical success, overall market development, and future potential.
We also believe that, in the future, Sastodeal will be able to provide significant synergies to IME portfolio companies. In areas such as digital wallets, FMCG, remittances, automotive, logistics, finance, entertainment, hospitality, and others.
Similarly, Amun Thapa, Founder of Sastodeal is very excited and wished to implement well-formulated plans for the growth of both companies.
He said that we are very excited to go onboard with IME Group and execute our growth plans together. IME Group has infrastructure and brand presence throughout the country, with a focus on Tier II and III markets.
We plan to use each other’s infrastructure, technology, and portfolio to provide better services to millions of consumers and thousands of businesses across Nepal.
We are much optimistic that this collaboration will have a long-term positive effect on both countries and for us. We believe IME’s investment in Sastodeal would inspire other businesses in Nepal and around the nation to consider e-commerce as a profitable investment opportunity.
The investment in Sastodeal also serves IME’s goal of promoting socio-entrepreneurship and supporting the growth of micro-enterprises, as Sastodeal provides a forum for thousands of SMEs from across the country to develop their businesses.