Pakistani Blockchain Marketplace Bazaar Secures $30 million In Funds

Bazaar Technologies, a Pakistani blockchain marketplace, successfully raised about $30M in Pakistani’s biggest Series A round. An announcement made by Bazaar states that August 24th will be the closing of its raise. It also reveals that Singapore’s Wavemaker Partners and Silicon Valley-based Defy Partners were the leaders of the funding round. Many other investors also participated in the funding round, including Japan’s Saison Capital, LinkedIn, Endeavor, and numerous present-day investors such as Alter Global and Indus Valley Capital. Related Reading | PayPal To Facilitate UK Customers With Cryptocurrency Trading Feature In Pakistan, Bazaar asserts that they are the leading Business-to-business marketplace group for small-scale merchants. They serve up to 750,000 merchants across 400 villages and towns. The majority of those that make use of Bazaar are small-scale ‘mom-and-pop grocery stores known locally as “Kiryana Stores.” They buy stock from suppliers through this platform. Bazaar’s round this period has grown its funding to $37.8 million. This figure grew from its $6.5M seed round of January 2021 after eight months of its launching and its pre-seed round of $1.3M in June 2020. The seed-round was co-led by the Global Founders Capital based in Berlin. The seed round was the firm’s first Pakistani investment. Also, VC Indus Valley Capital is another partner in the June seed round last yea...