Islamabad: Pakistan e-commerce startup ‘Bazaar’ raised $70 million in funding and scored the nation’s second-largest funding round. The investment list is led by global investment giants like Dragoneer Investment Group and Tiger Global Management.
Bazaar is a Pakistani e-commerce startup that attempts to digitize Pakistan’s retail with e-commerce, fintech and last-mile supply chain solutions. It was founded by two high-school friends less than two years ago and now operates in 21 cities across Pakistan, covering 30% of the population. It aims to build an “operating system for traditional retail” in Pakistan.
This collaboration between Bazaar and the investment giants also marks the first investment by Dragoneer in Pakistan.
Apart from Tiger Global Management and Dragoneer, the list of investors in ‘Bazaar’ includes Indus Valley Capital, Defy Partners, Acrew Capital, Wavemaker Partners, B&Y Venture Partners and Zayn Capital.
The reach of the company is now expanding as is shown on its website which says that the company has reached 500 towns.
Saad Jangda, one of the founders of Bazaar, thanked everyone who became part of their journey including investors, suppliers and customers.
1/ Excited to announce Bazaar’s $70M Series B led by Dragoneer and Tiger Global Management, two of the largest global tech funds.
There are lots of things to be thankful for today.https://t.co/PcwLwnz0vh
— Saad Jangda (@saadjangda) March 15, 2022
“We will continue our mission to build an incredible institution for and from Pakistan and double down on building the best in class team and culture,” Saad said.
