Year-old Pakistani ecommerce startup nets $30m

Bazaar, a Pakistan-based business-to-business ecommerce marketplace, announced that it has raised US$30 million in its latest round of funding.

More funding details

• Lead investors: Defy Partners and Wavemaker Partners.
• Returning investors: Indus Valley Capital, Global Founders Capital, Next Billion Ventures, and Alter Global.
• Other investors: Acrew Capital, Saison Capital, Zayn Capital, B&Y Venture Partners, a Silicon-Valley based growth fund, and other angel investors.
• Stage: Series A

More company updates

• With the latest round, the startup has raised a total of US$38 million in funding to date.
• Bazaar will use the fresh funds to expand into more cities across Pakistan, broaden its product stack, and scale its financial services offerings.
• Launched in 2020, Bazaar connects retailers directly with wholesalers and manufacturers.
• The company said it has served over 750,000 merchants since the launch of its ecommerce marketplace.
• Bazaar is also beta testing a buy now, pay later (BNPL) offering, whose share of customer spending in the category has been growing rapidly.
• In January, the firm raised US$6.5 million in a seed round led by venture capital firms Global Founders Capital and Indus Valley Capital.

For more coverage about the company, head here. You can also click on the link below to view the company’s key details and funding history.