Bazaar Technologies
| ISIN | 🆔 |
|---|---|
| Founded 📆 | May 2020 |
| Founder 👔 | Saad Jangda, Hamza Jawaid |
| Headquarters 🏙️ | , Karachi , Pakistan |
Area served 🗺️ | |
| Members | |
Number of employees | |
| 🌐 Website | https://www.bazaar-tech.com/ |
| 📇 Address | |
| 📞 telephone | |
Bazar Technologies, commonly know only as, Bazar, is a Pakistan based E-commerce B2B Marketplace.[1] The Company was launched in June 2020, by Hamza Jawaid and Saad Jangda, with an aim to digitize Pakistan's $170 billion retail market.[1][2] Based in Pakistan's largest city, Karachi,[1] the company is currently providing services in 21 cities and towns across Pakistan. Bazaar offers retailers to buy inventory through it's mobile application, connecting them with suppliers & wholesalers.[3] Apart from its mobile market, the company also offers a mobile bookkeeping application, named Easy Khata[4] and a buy now, pay later service.[5]
The company raised, Pakistan largest, $1.3 million pre-seed funding round in June 2020,[1] $6.5 million seed funding in January 2021, $30 million Series A round in August 2021[5] & $70 million Series B fund round in March 2022.[3]
Overview[edit]
Bazaar Technologies was founded in May 2020, by two friends, Hamza Jawaid & Saad Jangda. Hamza Jawaid, is a former management consultant with McKinsey & Company, while Saad Jangda was part of the founding team of Careem Now. Both founders, who had roots in Pakistan, but had mostly worked outside Pakistan, wanted to start a successful business in Pakistan[3].
Bazar mobile application was launched was during the during the COVID-19 pandemic in Pakistan, it was a time when most retail mom-and-pop stores were having difficulty opening shops and securing supplies[6]. Atif Awan, founder of Indus Valley Capital, led the pre-seed funding round. First round of funding was finalized completely on online Zoom meetings within 15 days, with the term sheet being received 10 days after the first pitch.
In March 2021, Bazaar technologies lunched another mobile application, Easy Khata, aiming to digitize booking in Pakistan, where most small stores where still working on manual booking[7].
Funding Rounds[edit]
Bazaar Technologies has so far completed four funding rounds, between 1st June 2020 to 14th March 2022.
| Accountment date | Funding Round | Amount Raised | Number of investors | Lead Investors |
|---|---|---|---|---|
| 1st June, 2020 | Pre-seed | $1.3 million | 2 | Indus Valley Capital |
| 19th January, 2021 | Seed round | $6.5 million | 9 | Global Founders Capital
Indus Valley Capital |
| 24th August, 2021 | Series A round | $30 million | 10 | Defy.vc, Wavemaker Partners |
| 14th March, 2022 | Series B | $70 million | 8 | Dragoneer Investment GroupTiger Global Management |
See Also[edit]
References[edit]
- ↑ 1.0 1.1 1.2 1.3 "Exclusive: Pakistani B2B ecommerce marketplace Bazaar raises $1.3 million in country's largest pre-seed round". MENAbytes. 2020-06-01. Retrieved 2022-03-22.
- ↑ "Pakistan Rising: Bazaar's Growth Story (A) - Case - Faculty & Research - Harvard Business School". www.hbs.edu. Retrieved 2022-03-22.
- ↑ 3.0 3.1 3.2 Prosser, David. "Bazaar Raises $70 Million As It Proves Startups Can Make It Big In Pakistan". Forbes. Retrieved 2022-03-22.
- ↑ "Bazaar launches digital ledger app Easy Khata, hits over 100,000 merchants in less than two months". MENAbytes. 2021-04-14. Retrieved 2022-03-22.
- ↑ 5.0 5.1 "Pakistan's B2B marketplace and digital ledger platform Bazaar raises $30 million". TechCrunch. Retrieved 2022-03-22.
- ↑ Hashim, Asad. "To survive Pakistan's COVID pandemic, grocery stores go online". www.aljazeera.com. Retrieved 2022-03-22.
- ↑ "Bazaar launches digital ledger app Easy Khata, hits over 100,000 merchants in less than two months". MENAbytes. 2021-04-14. Retrieved 2022-03-22.
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