Bazaar, a Karachi-based e-commerce platform, has raised $70 million in Series B funding, bringing the total financing to over $100 million. Defy Partners, Acrew Capital, Wavemaker Partners, B&Y Venture Partners, and Zayn Capital also invested.
Said Jangda and Hamza Jawaid created Bazaar in mid-2020 to connect retailers with suppliers.
Many shops in Karachi and Lahore have utilized its B2B e-commerce platform on their phones. Bazaar introduced Easy Khata in 2021, a digital ledger for Pakistani merchants. It says both apps have served 750,000 retailers.
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90% of Bazaar’s clients remain because they like the basic items they purchase and the small pleasures they experience. Founded by Saad Jangda and Hamza Jawaid in the mid-2020s, the purpose of Bazaar is to develop an operating system for conventional retail in Pakistan to assist merchants in interacting directly with wholesalers and manufacturers.
So far, it has assisted thousands of merchants in Karachi and Lahore to easily purchase items for their businesses using its mobile-only B2B e-commerce platform. The B2B e-commerce portal serves sellers in 21 Pakistani cities. These companies also utilize Bazaar’s Easy Khata app for accounting. This funding is provided by Bazaar Credit, the startup’s banking arm.
Bazaar’s focus on simplicity and delight in its offerings keeps 90% of its customers. The bazaar, set up by Saad Jangda and Hamza Jawaid in 2020, would allow buyers and sellers to interact. As co-founder Saad Jangda told TechCrunch, merging services helps Pakistani firms like Bazaar to provide a more comprehensive set of values to merchants.
“We were working with a third-party at the time to evaluate our credit product,” he continued. “No longer are we reliant on paper for our credit offerings. Bazaar handles order entry, credit disbursement, and cash collection. We began building a credit product on top of it,” he said, “adding that the business has already granted hundreds of loans in recent months.”