Bazaar taps digital potential of Pakistan's retail sector.
B2B e-commerce platform offers procurement solutions to small and medium-sized retailers.
Targets around 5mn small and medium-sized retailers operating across Pakistan.
Karachi: A Pakistani business-to-business (B2B) e-commerce platform, Bazaar Technologies, has raised $70 million in its Series B funding round, The News reported, citing the company.
Bazaar, which was launched during the peak of the COVID-19 pandemic in June 2019, has attracted $1.3 million in pre-seed funding, $6.5 million in seed funding and $30 million in Series A funding.
The startup said in a tweet that the Series B funding round was led by investors including Dragoneer Investment Group, Tiger Global, Indus Valley Capital, Defy., Acrew Capital, Wavemaker Partners, B&Y Venture Partners, and Zayn Capital.
The B2B e-commerce platform is tapping the digital potential of the Pakistan's retail sector and offers procurement solutions to small and medium-size retailers.
As per the details provided on the company's official website, the startup has already penetrated into 21 cities. It targets around 5 million small and medium-sized retailers operating across Pakistan and eyes to cover over 100 urban and rural centres across the country, and build the largest network to move any category of goods from point A to B wherever needed.
In a recent interview, one of its founders Hamza Jawaid said the fundraising sends a huge message.
"It proves that you...
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