Bazaar, a leading B2B e-commerce and fintech platform based in Pakistan, has raised $70m in a Series B financing led by Dragoneer Investment Group and Tiger Global Management.
Through its expanding footprint of digital products and last-mile infrastructure, Bazaar provides procurement, fulfilment, operating software, digital lending, and supply chain products to merchants and suppliers in Pakistan. This investment, which comes just six months after its historic Series A, takes Bazaar’s total institutional funding to over $100m, establishing it as one of the most well-capitalized startups in the country’s rapidly growing tech ecosystem.
Existing investors, including Indus Valley Capital, Defy Partners, Acrew Capital, Wavemaker Partners, B&Y Venture Partners and Zayn Capital also participated in the round.
“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”, said Christian Jensen, Partner at Dragoneer Investment Group. “Bazaar’s pace of geographic expansion and new product development is a testament to the rare talent and culture Hamza and Saad have cultivated at Bazaar.”
Bazaar’s mission is to build an operating system for traditional retail in Pakistan. This retail economy, worth over $170bn, is primarily offline and mostly served through five million SMEs across the country. This merchant base, which is the lifeline of Pakistan’s economy, also lacks access to...
Read Full Story: https://www.businessleader.co.uk/leading-pakistan-b2b-platform-secures-whopping-70m-in-series-b-round/
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