BusCaro, a transportation technology company operating in Pakistan, has announced a new funding round of $2 million. The investment was led by Daman Investments and included participation from firms such as Cartography Capital, Epic Angels, Wahed Ventures, Accelerate Prosperity, as well as several angel investors. This funding boost brings BusCaro’s total financing to $3.5 million.
The company has experienced significant growth recently, now handling more than 900,000 bookings each month. It aims to achieve a projected annual revenue of $8.6 million by the end of 2025. This growth is driven by BusCaro’s focus on providing safe, reliable, and structured transportation options for commuters, a segment that has faced numerous challenges in Pakistan’s sprawling urban landscapes.
In Pakistan’s major cities, commuting remains a complex challenge. Public transportation systems often struggle with overcrowding, unsafe conditions, and unreliable services. Rickshaws, a popular mode of transport, are considered unsafe, and ride-hailing apps tend to be expensive and sometimes unreliable for daily travel. As a result, many residents are forced to endure long hours of stress and inconvenience, highlighting the urgent need for better transportation solutions.
BusCaro addresses these issues by partnering with companies, educational institutions, and other organizations to offer tailored transportation services. Unlike fragmented providers, the company dedicates specific routes to particular organizations, ensuring consistency and safety. Its operations are supported by a four-part technology system that includes real-time tracking for passengers and parents, financial transparency for partner organizations, operational insights for administrators, and safety systems designed to instill trust. Currently, more than 80 corporate partners across key Pakistani cities, including Karachi, Lahore, Islamabad, and Rawalpindi, rely on BusCaro’s services. The company has consistently retained over 97% of its clients year after year, underscoring its reliability and commitment to customer satisfaction.
The company’s foundation was laid in the home of founder and CEO Maha Shahzad, where she began with a single bus and a small team of three people. The exit of Swvl, a notable global transport company that had been operating in Pakistan, created a gap in the market that Shahzad sought to fill with BusCaro’s focused, tech-enabled model.
The impact of BusCaro’s services has been evident to its users. Parents now have peace of mind knowing their children are monitored via live ride tracking. Female passengers frequently rate the service as safer than other options. Companies have reported benefits, including reduced absenteeism, improved punctuality, and lower transportation costs for employees. Drivers, who are referred to as “captains,” benefit from steady income through long-term partnerships and guaranteed demand.
Pakistan’s urban transportation infrastructure faces several challenges, including outdated regulations, volatile fuel prices, and a largely informal market of vendors. These issues make reliable mass transit difficult for millions. BusCaro’s structured and technology-driven approach offers a credible alternative that bridges the gap between traditional public buses and modern mobility solutions.
Looking ahead, BusCaro plans to expand its services into smaller cities across Pakistan, particularly in industrial and educational hubs that are currently underserved. The company also aims to collaborate with government agencies to modernize public transportation networks using its technology. International expansion is also being considered, with the company leveraging its scalable platform and operational expertise to enter new markets. This strategic growth will aim to provide better transportation options to a wider audience and continue transforming Pakistan’s urban mobility landscape.
KEY QUOTES:
“Students, parents, and employees needed a dependable way to travel every day, and no one was stepping up. We built BusCaro to be that solution – safe, affordable, and structured.” From that single bus, BusCaro has scaled to one of the largest mass transit platforms in Pakistan, growing revenue from $2 million in 2023 to more than $6.3 million today.
“Our vision is simple. We want to make commuting safe, reliable, and affordable for every family and every company in Pakistan and beyond. What started in my living room is now a nationwide movement, and this funding will help us take it even further.”
Maha Shahzad
“I use BusCaro’s service because their vehicles show up on time, rides are comfortable and I feel safe.”
BusCaro user Miss Iqra Shabbir
“My two children use BusCaro for their school commute. The service is reliable and makes our morning routine much easier. I feel a sense of security about my children’s safety.”
Parent Mr Abdul Majid
“At Daman Investments, we back visionary founders who are solving real challenges at scale, and BusCaro is a standout example. By making commuting safe, structured, and technology-driven, Maha and her team are improving lives every day. With our investment, we look forward to helping them accelerate growth, expand into new cities, and redefine urban mobility across the region.”
Ahmed Khizer Khan, CEO, Daman Investments
“There is a real need for safe and affordable public transport for the underserved segments of society in Pakistan, especially women. I have witnessed this gap firsthand in my own constituency in District Jhelum. I believe that such services will help address that gap and empower women across the country. I look forward to the arrival of such services in my district for the girls and women of Jhelum.”
Bilal Azhar Kayani, Finance Minister in the Government of Punjab
“Urban mobility is completely broken. Mass transit systems are still being built and operate in an inefficient manner. In such a scenario, 2 wheelers dominate the work travel space, which are costing us over $5bn in fuel imports. We need solutions for daily commute and BusCaro’s strategy to start by focusing on B2B use cases is on point.”
Junaid Iqbal, economist and ex-founding MD of ride hailing app Careem
