Bazaar to Digitize Pakistan’s Retail with a $70 million Funding from Dragoneer and Tiger

Bazaar On Its Way To Digitize Pakistan’s Retail With A $70 million Funding From Dragoneer and Tiger

March 18, 2022

Freshly announced e-Commerce Pakistan news ! In a Series B round led by Dragoneer Investment Group and Tiger Global, Bazaar, a Karachi based B2B ecommerce and fintech startup managed to raise $70 million. This round followed up $30 million raise in Series A just after six months, which was joined by existing investors and also included Indus Valley Capital, Defy.vc, Acrew Capital, Wavemaker Partners, B&Y Venture Partners, and Zayn Capital. Both the round summed up brought up a financing total of over $100 million making Bazaar Pakistan’s one of the best-funded startups.

Bazaar was setup less than two years ago and is building an operation system concerning Pakistan’s traditional retail with the aim to digitize Pakistan’s retail forum with e-commerce. Their current plan is to enable Pakistani retailers with an e-commerce market place where they acquire inventory for their stores, an app for traders named Easy Khata and a bazaar credit; a short-term working capital financing product.

This market place by Bazaar as of now serves about 21 cities and towns in Pakistan and is adding up 3-4 new cities to the list each month. As said in a statement ‘Bazaar is set on the road to establish Pakistan’s largest tech-enabled last-mile footprint’.

Easy Khata, according to Saad Jangda, is helping the firm win customers. Easy Khata has up till now 2.4 million businesses onboard from 500 cities and towns in the country and has aided merchants digitize their records. While Bazaar Credit, the startup’s recent launch has already issued thousands of digital loans to its merchants with 100 percent repayment.

Discussing on the investment, the partner at Dragoneer Investment Group; Christian Jensen added “We are thrilled to support Bazaar’s vision of building an end-to-end commerce and fintech platform for millions of unbanked and offline merchants in Pakistan. Their pace of geographic expansion and new product development is a testament to the rare talent and culture Hamza and Saad have cultivated at Bazaar.”

While, John Curtius, the partner at Tiger Global Management commented saying “We believe that Pakistan is at an inflection point in its tech ecosystem development. They are tapping into the massive merchant for e-Commerce Pakistan and is leading the charge in the . We are excited to back their incredible team and phenomenal growth in such a short span of time.”

The founders of Bazaar; Hamza Jawaid and Saad Jangda, showed joyed commitment stating “We are humbled and excited to continue on the path to create a generation-defining story for Pakistan”.

The widely funded startup; Bazaar is planned to use the latest funding to expand into more cities located all over Pakistan, to launch new marketplace categories, to scale the lending offers and speed up new product development bringing new opportunities to the home nation.

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