Bazaar Technologies

Marketing for startups project

Slot 70468

Group Members:
Huda Anwar – 21753
Afia Amir – 19293
Aena Tahir – 21988
Samreen Farooqui – 19093
Aqsa Ghazal – 18765
Introduction
The e-commerce industry in Pakistan has been rapidly growing as a revenue of US$4.2 billion was
recorded in 2021, making it 46th largest e-commerce market in the world.1 Within this market, the B2B
marketplace has also been growing as we see the birth of numerous startups in the past 3 to 5 years
particularly.

Based in Karachi, Bazaar Technologies is one of the B2B (Business-to-Business) e-commerce companies.
It was founded in June 2020 by Hamza Jawaid and Saad Jangda with the aim to simplify and digitalize the
procurement process for retailers by providing an easy way to connect with wholesalers and
manufacturers.

The founders realized the challenges faced by the 5 million small and medium-sized retailers in
procurement due to the complex supply chain, and provided a solution. The company is currently
operating in 21 cities across Pakistan, reaching to 30% of the population. It has entered three B2B
verticals which are Retail, Industrial, and Fintech.

Bazaar’s platform is a one-stop solution that allows them to access a variety of goods, that not only
include local but international and unbranded products to assist in obtaining raw materials. Retailers can
order at any time of the week and receive their delivery at their stores the next day with no delivery
costs. The app also contains features that can contribute to the productivity of the businesses, like built-
in calculator, cashbook dashboard, account reports, etc.

With time, they began to launch different platforms and launched a digital ledger app called “Easy
Khata” which helps in bookkeeping and customer engagement, providing a number of features ranging
from online backups to free daily SMS reminders to customers. According to the founder, they have
served 750,000+ merchants as of now. The company also provides financial services of buy now pay
later to their customers from both the Industrial and Retail verticals.

Their recently launched app called “Bazaar Industrial” facilitates manufacturers in obtaining raw
materials, offering more than 15 categories, including chemicals, construction, steel, textile, polymers,
etc.2 “Bazaar Industrial aims to solve the problem faced by Pakistan’s $20B+ raw material market.”3

The startup has raised over $100 million funded by 16 investors–with the most recent ones being Indus
Valley Capital and Zayn Capital. They received $1.3 Million in their first seed round and $6.5 Million in
the second. They raised $30 Million in Series A financing in August 2021 which was led by Defy Partner

1
“Pakistan – eCommerce” (2022). International Trade Administration. https://www.trade.gov/country-commercial-
guides/pakistan-ecommerce
2
“Bazaar launches new platform” (2023). The News. https://www.thenews.com.pk/print/1038811-bazaar-
launches-new-platform
3
Bazaar Technologies. “Bazaar Industrial aims to solve the problem faced by Pakistan’s $20B+ raw material market”
LinkedIn. https://www.linkedin.com/feed/update/urn:li:activity:7029353586912313345/
and Wavemaker Partners.4 Further, they raised $70 Million in Series B funding in March 2022, being the
country’s second-largest funding round, led by Dragoneer Investment Group and Tiger Global.5

4
Eltigani, N. “Bazaar, Pakistan B2B marketplace and digital ledger raises $30 million in country’s largest Series A”
(2021). Menabytes. https://www.menabytes.com/bazaar-series-a/
5
Mangi, F. “E-Commerce Startup Bazaar Scores Pakistan’s Second-Biggest Funding Round” (2022). Bloomberg.
https://www.bloomberg.com/news/articles/2022-03-15/dragoneer-tiger-global-lead-new-funding-for-pakistan-s-
bazaar?leadSource=uverify%20wall