Bazaar raised $30M in Series A round making it the largest ever Series A in Pakistan
Pakistan’s Bazaar technologies has raised $30M in a Series A round making it the largest ever Series A for the country! This brings the total disclosed investment in the startup till now to $37.8M.
Who led the Series A?
● Defy Partners
● Wavemaker Partners
The round also saw participation from Acrew Capital, Saison Capital, Zayn Capital, B&Y ventures, as well as existing investors Indus Valley Capital, Global Founders Capital, Next Billion Ventures, and Alter Global. Notable former and current leaders of LinkedIn, Careem, Antler, Gumroad, and Notion also participated in the round.
Commenting on the investment, Kamil Saeid of Defy Partners said, “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.”
Wavemaker is a returning investor in Bazaar. Paul Santos, managing partner at wavemaker, commented that “After working with Hamza and Saad over the past year, we’ve been impressed by their customer-centric approach to product development and the speed of their learning and execution. It’s no surprise that they’ve received glowing reviews from their customers and partners.”
About Bazaar
Bazaar technologies is a B2B E-commerce startup. The Bazaar app provides small merchants a one stop solution for inventory procurement, whereas the Easy khata app developed by Bazaar simplifies the book keeping and collection process for merchants. Today, Bazaar is serving 750,000+ merchants thus reaching 400+ towns, and has more than 200 brands on board. This growth in just sixteen months of operations is impressive and worthy of praise!
How’s the B2B retail space coming along?
The B2B Retail space has seen increasing focus from investors over the last year with Bazaar, Tajir, Retailo, Dastgyr, and Jugnu leading the space.
Dastgyr: Dastgyr enables retailers to source merchandise from manufacturers, brands, wholesalers etc. on a single platform and has so far raised about $4M in funding.
Tajir: Tajir is a one stop shop for inventory procurement that connects suppliers directly with retailers through its platform and has so far raised around $19M in funding.
Retailo: Retailo enables small retailers to order inventory through its app and has so far raised around $9M in funding.
Jugnu: Jugnu enables thousands of retailers in inventory procurement through its app and fulfillment centers and has raised around $3.2M in funding.
And there are many others popping up in this space.
How is Pakistan’s startup ecosystem coming along?
This has been a stellar year for the Pakistani startup ecosystem so far. Airlift technologies raised $85M in a Series-B round just last week, whereas more than 21 other startups have already raised a million dollars or more in funding this year
We are excited for what comes next!