Karachi-based e-commerce startup Bazaar has raised $70 million in series B round funding by Dragoneer Investment Group and Tiger Global. Indus Valley Capital, Defy.vc, Acrew Capital, Wavemaker Partners, B&Y Venture Partners, and Zayn Capital joined existing investors in the round that follows Bazaar’s $30 million Series A. It takes Bazaar’s total financing to over $100 million.
The goal of Bazaar, which was founded by Saad Jangda and Hamza Jawaid less than 2 years ago, is to build an operating system for traditional retail in Pakistan that enables retailers to connect directly with wholesalers and manufacturers. Thousand of retailers in Karachi and Lahore have been able to easily procure inventory through its mobile-only B2B e-commerce platform.
Additionally, in 2021, Bazaar released a ledger app called Easy Khata to assist Pakistani retailers with their book-keeping. Both apps have benefit by more than 750,000 merchants.
Bazaar plans to use the latest funds to expand into more cities across Pakistan, launch new marketplace categories, scale its lending offerings, and accelerate new product development.
With a $170 billion commercial space available in Pakistan, where five million small, medium-sized, and large businesses already operate across a wide range of industries, Bazaar is looking to establish an “operating system for traditional retail.”