He bought the start-up for an undisclosed amount and the business is currently undergoing an internal review before re-launching a new strategy in Autumn this year. So confident was he in the business that six months after coming on board as a seed investor Ali ended up acquiring the three-year-old HalalEat in June. We had the business knowledge, we knew what could be done in a proper way in order to see the growth down the road,” said Ali. “The first thing which made me confident investing in HalalEat is obviously it’s not something new I’m getting into. When HalalEat started looking for investors late last year, Ali jumped at the opportunity. After HungryHouse, It went on to also provide support services to HalalEat, another UK online food ordering business. At the time, TransData was also a new business, having opened only in late 2003. “ack in 2006, I was focused on outsourcing services that we were providing and it wasn’t a growth that we were actually seeing in that business, so I missed that deal,” entrepreneur-turned-investor Mian Ali told Salaam Gateway.Īli’s outsourcing company, Lahore-based TransData International, provided support services to HungryHouse from the beginning of the start-up’s life in 2006 until Germany’s Delivery Hero acquired a controlling stake in it in 2011. This year, that same entrepreneur wasn’t about to miss a similar opportunity. In 2006, a Pakistani entrepreneur passed on investing in UK online food ordering platform HungryHouse that went on to be sold to rival Just Eat for 240 million British pounds ($316.9 million) in 2017. Institutional investors and funding competitions tend to be well-publicised but we don’t often hear about individual investors. ![]() Entrepreneurs in the Islamic economy depend on a range of funding sources to help them grow their ideas and businesses.
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