Karachi-based B2B eCommerce Bazaar raises record $6.5 million in a seed funding round

January 19, 2021 (MLN): Pakistani startup Bazaar Technologies has successfully raised USD 6.5 million in a seed funding round.

The round was led by Indus Valley Capital, a Pakistan-focused fund started by LinkedIn’s former VP Growth Aatif Awan that also led early investments in Airlift. The round was co-financed by Alter Global – a Silicon Valley-based emerging markets fund.

Karachi-based B2B e-commerce marketplace Bazaar is a platform that gives small and medium-sized retailers access to a large assortment of goods from multiple sources on a single platform.

Previously, it had raised $1.3 million in Pakistan’s largest pre-seed round.

Commenting on the above development, Adviser to Prime Minister of Pakistan for Commerce and Investment, Abdul Razaq Dawood via his official Twitter handle congratulated Bazaar Technologies on successfully raising USD 6.5 million in what is now being termed as one of the region’s larger seed rounds.

“This is impressive considering the fact that the startup was founded just 8-months ago by two youngsters at Karachi for digitizing of the traditional retail sector in Pakistan. I have always believed in the entrepreneurship of our youth & this speaks volumes about their abilities,” he said.

He further wished them success and urged young entrepreneurs to emulate this as with a large population base, Pakistan is one of the largest potential e-commerce markets in the world.

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