The funding will help Jugnu expand across Pakistan. Here are the top-line bullets you need to know.
Jugnu, a B2B e-commerce platform, has raised $22.5M in a Series A round that drew participation from Sary.
HOW’S THE COMPANY PERFORMING?
- Pakistan-based Jugnu connects kiryana stores with manufacturers.
- The platform caters to 30K kiryana stores and SMEs across Lahore, Rawalpindi, and Islamabad.
- The company has established partnerships with Amazon Web Services and Salesflo.
- Jugnu is supported by a team of 100 people.
WHY DOES THE MARKET MATTER?
- The global B2B e-commerce market is expected to reach a value of $25.65T by 2028, growing at a CAGR of 18.7%, according to Grand View Research.
- Several vendors have adopted digital transformation initiatives to keep up with changing consumer preferences, compelling them to turn to solutions to help manage online shopping operations, payments processing, and more.
- The onset of the Covid-19 pandemic and subsequent rise in online purchase volume have also contributed to market growth.
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