Pakistan boost largest potential for eCommerce in the world, says Dawood
- “I wish them success and urge our young entrepreneurs to emulate this," he said.
Advisor to Prime Minister on Trade and Investment Abdul Razak Dawood has applauded Pakistan’s eCommerce startup Bazaar Technologies for raising $6.5 million in seed funding.
“I congratulate Bazaar Technologies on successfully raising USD 6.5 million in what is now being termed as one of the region’s larger seed rounds,” said Dawood in a series of tweets.
“This is impressive considering the fact that the startup was founded just 8-months ago by two youngsters at Karachi for digitizing of the traditional retail sector in Pakistan. I have always believed in the entrepreneurship of our youth & this speaks volumes about their abilities.”
“I wish them success and urge our young entrepreneurs to emulate this as with a large population base, Pakistan is one of the largest potential e-commerce markets in the world,” he added.
Pakistan's B2B ecommerce marketplace, Bazaar, raised $6.5 million in one of the largest seed rounds in the Middle East and North Africa (MENA) region. Bazaar becomes one of the best funded startups in Pakistan, as its total raise accumulates to $7.8 million after this round.
Berlin-based Global Founders Capital and Pakistan-based VC Indus Valley Capital co-led this seed round. This seed round was reported to be the second largest round ever raised by a startup in the MENA region and the largest in Pakistan.
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