Pakistani’s Bazaar Startup B2B marketplace and digital ledger elevations $30 million in country

 

 Pakistani’s Bazaar Startup B2B marketplace and digital ledger elevations $30 million in country

Pakistani’s Bazaar Startup

 

The Pakistani E-commerce startup Bazaar is headquarter in Karachi has been raised 30 million dollar in the larger Series. The California-based VC Defy and   Wavemaker Partners   Bazaar was led by them. The   The agreement that comes just seven months after Bazaar’s seed round.

 

It also involved participation from US-based Acrew Capital, Japan’s Saison Capital, Zayn Capital, B&Y Venture Partners, a Silicon Valley-based growth fund, and existing investors; Indus Valley Capital, Global Founders Capital, Next Billion Ventures, and Alter Global. Several angel investors comprising current and former leaders of Antler, Careem, Endeavor, Gumroad, LinkedIn, and Notion were also part of the agreement.

Saad Jangdu  and Hunza Jawaid founded Bazaar in 2020 to build an operating system for traditional retailers in Pakistan. The Bazaar is allowed retailers to directly connect with wholesalers and manufacturers to acquire roster for their store

The Bazaar startup had also been launched a digital app Easy Khata to help retailers all served over 750,000 merchants.

It is also noted that the startup has a loyal customer base with 90 percent retention, “The durable engagement and retention produce a result of its deep focus on effortlessness and delight in its products.”

 “What Bazaar has managed to accomplish in the last year is incredible. We are extremely impressed by the speed and robustness with which they build and deploy. As Defy’s first investment into Pakistan’s burgeoning tech ecosystem, we feel Bazaar is on its way to create a category-defining company for the country. ”said by Kamil Saeid, Partner at Defy Partners,

The Pakistani startup Bazaar has also been testing its lending offering, a buy now pay later service for its retailers, in private beta. The initial results have been phenomenal, Bazaar Startup said in a announcement, explaining that the wallet share of the retailers who have used the facility has gathered and the repayment rates are close to 100 percent.

In addition to Bazaar’s founders said, “Bazaar is going after a massive opportunity with the ultimate aim of creating a generational story in and from Pakistan. In a country with incredible talent and huge market opportunity, it’s about time we create an inspirational story that brings together the country’s best talent who can go on to create many such stories in the future.”