The decision was taken in light of Sastodeal’s brand identity, historic market success, overall e-commerce industry growth, and future prospects, according to Hemraj Dhakal, co-founder and managing director of IME Group.
“We imagine Sastodeal working with IME portfolio companies in the future, such as digital wallets, FMCG, remittances, automotive, logistics, finance, entertainment, and hospitality,” he said.
Sastodeal’s founder, Amun Thapa, said he was looking forward to working with the IME Group to put plans in place to help the business and the e-commerce industry develop together. “We plan to combine our infrastructure, technology, and portfolios to provide excellent services to Nepal for our millions of customers and thousands of businesses,” he said.
Last year, Sastodeal formed a strategic alliance with Walmart-owned Flipkart. Investors such as Dolma Impact Fund and ICTC have also backed the firm.