FINANCE:

Finance is a term for matters regarding the management, creation, and study of money and
investments. Finance can be broadly divided into three categories:

 Public finance.
 Corporate finance.
 Personal finance.

There are many other specific categories, such as behavioral finance, which seeks to identify the
cognitive (e.g., emotional, social, and psychological) reasons behind financial decisions.

KEY TAKEWAYS:
Finance is a term broadly describing the study and system of money, investments, and other financial
instruments.

Finance can be divided broadly into three distinct categories: public finance, corporate finance, and
personal finance.

More recent subcategories of finance include social finance and behavioral finance.

The history of finance and financial activities dates back to the dawn of civilization. Banks and interest-
bearing loans existed as early as 3000 BC. Coins were being circulated as early as 1000 BC.

While it has roots in scientific fields, such as statistics, economics, and mathematics, finance also
includes non-scientific elements that liken it to an art.

UNDERSTANDIG FINANCE:
"Finance" is typically broken down into three broad categories: Public finance includes tax systems,
government expenditures, budget procedures, stabilization policy and instruments, debt issues, and
other government concerns. Corporate finance involves managing assets, liabilities, revenues, and debts
for a business. Personal finance defines all financial decisions and activities of an individual or
household, including budgeting, insurance, mortgage planning, savings, and retirement planning.

HISTORY OF FINANCE:
Finance as a study of theory and practice distinct from the field of economics arose in the 1940s and
1950s with the works of Markowitz, Tobin, Sharpe, Treynor, Black, and Scholes, to name just a few. But
particular realms of finance—such as banking, lending, and investing, of course, money itself—have
been around since the dawn of civilization in some form or another. Around 3000 BC, banking seems to
have originated in the Babylonian/Sumerian empire, where temples and palaces were used as safe
places for the storage of financial assets—grain, cattle, and silver or copper ingots. Grain was the
currency of choice in the country, while silver was preferred in the city

BAZAAR COMPANY:
A one-year-old startup that is creating a business-to-business marketplace for merchants in Pakistan
while also assisting them in digitising their bookkeeping is the latest to secure a mega-round in the
South Asian market.

Bazaar announced on Tuesday that it had raised $30 million in a Series A round.

The new financing round, the largest Series A in Pakistan, was led by Silicon Valley-based early-stage VC
Defy Partners and Singapore-based Wave maker Partners.

Bazaar's business-to-business marketplace, which allows merchants to buy inventory at a fixed price and
choose from a much larger catalogue.

Pakistan's B2B marketplace Bazaar is reportedly the latest to secure a mega round in the South Asian
market. According to a report in Tech Crunch, the one-year-old startup has raised $30 million in a Series
A round. The new financing round is said to be the largest Series A in Pakistan. azaar is building a
business-to-business marketplace for merchants in Pakistan and helping them digitize their
bookkeeping. On being compared to India's Udaan and KhataBook, Hamza Jawaid, co-founder of Bazaar
told Tech Crunch in an interview, "That's a good way to describe us." He further added, "We had this
benefit of hindsight to not just look at India but other emerging markets.
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Bazaar was founded in June 2020 with the aim of catering small and medium-sized enterprises in
Pakistan to procure inventory, manage their bookkeeping and access financial services to simplify and
help them grow. The startup was launched by Saad Jangda — formerly a product manager for ride-
hailing and food delivery company Careem — and Hamza Jawaid, who was a management consultant at
McKinsey & Company in Dubai. Through its multi-product offerings, Bazaar is bringing a range of
products and services, such as commerce, accounting, payments, lending, invoicing and inventory
management as part of one digital stack for small merchants,” a press release issued by the company
stated.

“Bazaar’s early results and growth have been phenomenal making it a market leader in the retail space
in a short span of time.” The startup says its B2B ecommerce marketplace is now live in Karachi and
Lahore, while its digital ledger product Easy Khata is live across the country, with the company claiming
to have already "served over 750,000 merchants since launch.” Bazaar’s mission is to build an operating
system for traditional retail in Pakistan. Through its B2B ecommerce platform and digital ledger product
Easy Khata, Bazaar aims to help the 5 million small and medium-sized enterprises. This segment also
lacks access to formal financial services, in a country that has the third-largest unbanked population in
the world. At the same time, the country is undergoing a massive shift with its exponentially growing
digital penetration due to cheap smartphones and mobile broadband availability,” it added.
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