Bazaar will use the funding to grow its presence in Pakistan. Here are the top-line bullets you need to know.
Bazaar, a B2B marketplace for merchants, has raised $30M in a Series A. The round drew participation from Indus Valley Capital, Alter Global, Wavemaker Partners, and Defy Partners among others.
HOW’S THE COMPANY PERFORMING?
- Karachi-based Bazaar provides B2B e-commerce services to 750,000 small merchants across Pakistan.
- It provides users with digital ledger services for bookkeeping and credit collection.
- The company has a merchant retention rate of 90%.
- Bazaar caters to users in more than 400 Pakistani towns through its app.
WHY DOES THE MARKET MATTER?
- The global B2B e-commerce market is projected to grow at a CAGR of 18.7% to reach a value of $25.65T by 2028, according to Grand View Research.
- The market has benefited from the growing popularity of online purchase channels amid the Covid-19 pandemic.
- The $170B Pakistani retail market has been largely untouched by the deployment of emergent technologies — which has created significant opportunities for players in this space.