Bazaar: Pakistani Startup Raises $6.5 Million In Seed Funding

Startup Bazaar

Bazaar, a Pakistan-based business-to-business e-commerce startup that launched just eight months ago , has raised $6.5 million in one of the region’s largest seed rounds. Seed funding or seed capital refers to funding provided by private investors – usually in exchange for an equity stake in the company. The round was co led by Pakistan-focused Indus Valley Capital and Berlin-based Global Founders Capital, which is making it’s first investment in Pakistan. This fact alone, points to the amount of confidence investors have in this Startup.

The pre-seed round was also lead by Indus Valley Capital in June 2020. According to MENAbytes it was the largest seed round raised by a startup in Pakistan and second largest round ever raised in North Africa and the Middle East. The recent seed round, combined with the pre-seed round takes Bazaar’s total to $7.8 million, consequently making bazaar one of the best funded startups in Pakistan.

Other investors in the round included several other globally renowned investors such as S7V, Derayah Venture Capital, Wavemaker Partners, and Next Billion Ventures, all of whom, according to Bazaar, are making their first investments in Pakistan.

But what exactly is Bazaar? Bazaar is a startup aiming to digitize retail in Pakistan. Founded by Hamza Jawaid and Saad Jangda. Bazaar is mobile-based ecommerce market place that enables retailers to purchase their inventory from suppliers, wholesalers and manufacturers. Along with free next-day delivery to digitize traditional retail in Pakistan

Bazaar, an eight-month old business-to-business e-commerce marketplace that aims to digitise traditional retail in Pakistan, has raised $6.5 million in seed funding, bringing the total raised by the startup to $7.8 million in two funding rounds.

startup bazaar app layout
image source: Bazaar official website

Bazaar gives small and medium-sized retailers access to a plethora of goods from local and international brands as well as unbranded products on a single platform. Mom-and-pop stores, known locally as Kiryana stores, can benefit from Bazaar in terms of “it’s convenient ordering, reliable delivery and competitive prices,” said the startup. “On the other hand, Suppliers get direct access to thousands of Retailers, as well as actionable insights on purchasing patterns and current market trends.

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bazaar startup co founders
Bazaar co-founders

When Saad and Hamza first started developing this startup, they set a target of serving 800 retailers in Karachi. But the response was overwhelming, they closed the year 2020 with over 10,000 retailers. Beating their initial targets by a massive margin

Bazaar not only is shaping up to be a successful startup, but also succeeded in bringing in an amazing number of investors. A huge win for Pakistan economically. Here’s to hoping Bazaar has the best of luck and that Pakistan sees many similar successes.