Blockchain of Pakistan startup increased by $38 million

Syed AhadWeb Editor

25th Aug, 2021. 07:15 pm

Pakistan has perceived a substantial flow in interest concerning a newly launched blockchain-powered B2B marketplace known as Bazaar Technologies.

The startup of the blockchain new Series A funding round succeeded to secure about $30 million, becoming the leading funding round in the state’s history.

The firm only announced the end of the campaign, providing a little information along the way. For instance, the funding round was controlled by the Silicon Valley-headquartered firm, Defy Partners, together with Singapore-based Wavemaker Partners.

Several others have also joined but to some extent, the firms include LinkedIn, Endeavor, and Japan-based Saison Capital. There were also some present investors, like Alter Global and Indus Valley Capital.

As per Bazaar’s report, the firm is the foremost B2B marketplace platform for Pakistan’s minor traders. It presently serves over 750,000 small businesses across 400 different towns and villages. The majority of these are so-called “mom-and-pop” food stores, known as “kiryana.” These firms have found the platform to be quite helpful in buying merchandise from a variety of sellers.

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