Tiger Global co-leads $70m round of Pakistan ecommerce startup

Bazaar, a Pakistan-based B2B ecommerce and fintech platform, has raised US$70 million in a series B round led by Dragoneer Investment Group and Tiger Global Management.

Photo credit: Bazaar

Founded in 2020 by Hamza Jawaid and Saad Jangda, Bazaar is building an operating system for traditional retail in Pakistan. Bazaar provides procurement, fulfillment, operating software, digital lending, and supply chain products to merchants and suppliers in Pakistan.

Bazaar’s B2B ecommerce marketplace is available in 21 towns and cities across Pakistan, covering 30% of the country’s population. It has a network of over a dozen functional fulfillment facilities. The company is adding three to four new cities and towns to its last-mile network every month.

Its merchant software product, Easy Khata, has over 2.4 million businesses across 500 cities and towns in the country, recording over US$10 billion in annualized bookkeeping transaction value.

Bazaar Credit, the recently launched short-term working capital financing product, provides liquidity to its unbanked merchant base.

With the fresh round of funding, Bazaar plans to expand into more cities across Pakistan, launch new marketplace categories, scale its lending offerings, and accelerate new product development. The latest round takes Bazaar’s total institutional funding to over US$100 million.

Other investors in the round include

• Indus Valley Capital
• Defy Partners
• Acrew Capital
• Wavemaker Partners
• B&Y Venture Partners
• Zayn Capital

See also: Exclusive: Ecommerce enabler Zaapi bags $4m seed round led by Flourish Ventures, GFC, Partech