Karachi-based B2B Platform Bazaar has raised $30 Million in the largest series A round for Pakistani startups. The amount raised was just after the seven months of seed round which was led by California-based VC defy Partners.
Google App Link: Bazaar App (Play Store)
The series A round participants include Acrew Capital from the United States, Zayn Capital, a growth fund based in silicon valley, Saison Capital from Japan, Indus Valley Capital, Global Founders Capital, and more.
Bazaar was started in 2020 by Saad Jangda and Hamza Jawaid, Bazaar is basically a B2B commerce marketplace that will help connect the small retailer to the wholesalers using a mobile phone application. The application is currently targeting Karachi and Lahore and will expand to other major cities in a few years according to the representative in this venture.
Earlier this year, the startup had launched another app called Easy Khata, a ledger for retailers in Pakistan. The application is helping 75,000 merchants in Pakistan, according to a statement by Bazaar.
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The application’s simplicity is the major reason for its outstanding engagement. According to an estimate, the startup has a loyal customer base with 90% of retention.
“We are extremely happy with what Bazaar has managed to achieve in the past year. The speed with which they build and deploy is remarkable. With Defy’s first-ever investment in Pakistan, we are on the track to create a category-defining company in Pakistan”, said Kamil Saeid, a partner at Defy.
“In the country where talent is reaching the skies and huge opportunity in the market, Bazaar is aiming for a massive opportunity to create a story for generations to come and to inspire them in Pakistan. It is high time that we inspire talented people in Pakistan and bring them together so they can create many such stories in the future.