Investor Relations

Investor Relations

Seed Round

A group of friends and family with professional backgrounds of management, technology, finance, marketing and research came together in late 2018 to visualize the outlook of Digital Nepal and found grave problems in the logistic sector being unorganized, inconsistent and traditional. This was a challenge which could be resolved using innovative technology and thus a seed round was raised to kick start the pilot business model of Upaya City Cargo.

Angel Round

Within a year of operation of the company, few of local and NRN investor believed in the future and prospect of the business model of Upaya City Cargo and the company was successful in closing Angel Round to take the company from MVP to real operation of building the customer base and delivery partner base for intra-city logistics in Nepal.

Series A

In the year 2021, Upaya City Cargo successfully closed US $ 1.5 million from Dolma Impact Fund II for scaling the business all across the country and evolving the business model from online intra-city delivery to E2E Logistic Company that encompass first, middle and last mile delivery services to its customer.

Investor Relations
Investor Relations

Board of Directors

  • Suman Rayamajhi

    Suman Rayamajhi is the Managing Director of Upaya and has 20 years plus of working experience in the corporate, telecom, startup, equity and financial sectors in Nepal.

    Suman had also worked as Chief Financial Officer in Smart Telecom and had been a key management team of Smart to operationalize the Company with 4G launch in major cities of Nepal and raising the fund for the network expansion.

    He also wears a hat as founder of Eos Advisors, a boutique investment advisory company, where his expertise lies in setting up & operationalizing PE/ Venture Funds, due diligence, transactions advisory and deal structuring.

  • Ranjeev Shrestha

    Ranjeev Shrestha is one of the Founders and Board member of Upaya and is responsible for providing strategic and financial direction contributing to the overall growth of the organization.

    He is a practising Chartered Accountant with more than 20 years of working experience in various sectors in Nepal. His expertise lies in supervising, managing, & leading various assurance, tax, advisory & consulting engagements of various governmental, private and public companies, foreign embassies/development agencies, (I)NGOs, Banks & Financial Institutions.

    At Upaya, he oversees business review and financial performance, ensures controls, compliance & governance, corporate structuring, besides spearheading business goals, including financial performance of the company.

    He is a Fellow Chartered Accountant trained with A.F. Ferguson & Co. (Deloitte) in Mumbai, India and has a Bachelors in Commerce from Symbiosis College, Pune, India. 

  • Tim Gocher

    Tim Gocher is a private equity executive with a background in renewable energy and technology. He founded the first ever international Private Equity fund for Nepal Dolma Impact Fund, an international investment fund building businesses and jobs in Nepal.

    Dolma Impact Fund I and II are Nepal-focused private equity funds managed by Dolma Fund Management. Tim is an Hon. Prof of Sustainable Business at The University of Nottingham and a Guest Lecturer at London Business School, where he gained his MBA. 

    He is also the Chairman of Dolma Foundation which is a non-profit organisation that commenced operations in 2003 to alleviate poverty by investing in sustainable businesses, education and healthcare in Nepal and other Least Developed Countries (LDCs). As an education and health sponsor for the poorest, Dolma transforms the lives of children and their families for generations to come.

Want to be a part of Upaya?

Do you have an interest in being a part of Upaya either as a driver or rider partner, business partner, or franchise partner?