AVN 67.10 Increased By ▲ 1.90 (2.91%)
BAFL 31.00 Increased By ▲ 0.26 (0.85%)
BOP 4.90 Increased By ▲ 0.10 (2.08%)
CNERGY 3.78 Increased By ▲ 0.07 (1.89%)
DFML 14.43 Increased By ▲ 0.22 (1.55%)
DGKC 41.85 Increased By ▲ 0.80 (1.95%)
EPCL 46.57 Increased By ▲ 0.12 (0.26%)
FCCL 11.69 Increased By ▲ 0.29 (2.54%)
FFL 5.07 Increased By ▲ 0.02 (0.4%)
FLYNG 5.80 No Change ▼ 0.00 (0%)
GGL 10.42 Increased By ▲ 0.09 (0.87%)
HUBC 68.00 Increased By ▲ 1.13 (1.69%)
HUMNL 5.76 Increased By ▲ 0.05 (0.88%)
KAPCO 28.10 Increased By ▲ 0.34 (1.22%)
KEL 2.29 Increased By ▲ 0.09 (4.09%)
LOTCHEM 25.05 Increased By ▲ 0.15 (0.6%)
MLCF 21.69 Increased By ▲ 0.25 (1.17%)
NETSOL 86.00 Increased By ▲ 2.40 (2.87%)
OGDC 92.38 Increased By ▲ 6.48 (7.54%)
PAEL 11.09 Increased By ▲ 0.08 (0.73%)
PIBTL 4.24 Increased By ▲ 0.02 (0.47%)
PPL 80.15 Increased By ▲ 5.67 (7.61%)
PRL 13.64 Increased By ▲ 0.21 (1.56%)
SILK 0.90 Decreased By ▼ -0.02 (-2.17%)
SNGP 43.47 Increased By ▲ 3.07 (7.6%)
TELE 5.96 Increased By ▲ 0.10 (1.71%)
TPLP 15.73 Increased By ▲ 0.33 (2.14%)
TRG 115.01 Increased By ▲ 3.60 (3.23%)
UNITY 13.85 Increased By ▲ 0.10 (0.73%)
WTL 1.16 Increased By ▲ 0.02 (1.75%)
BR100 4,124 Increased By 87 (2.16%)
BR30 14,930 Increased By 518.1 (3.59%)
KSE100 41,253 Increased By 782.3 (1.93%)
KSE30 15,522 Increased By 359.6 (2.37%)
Technology

Pakistan's Jugnu raises $3.2m from Systems Limited

  • B2B ecommerce marketplace aims to use funds to expand in a highly competitive market
Published June 15, 2021
Source: Jugnu
Source: Jugnu
Follow us

Jugnu, a Karachi-based B2B ecommerce marketplace, and its parent company Saleflo have raised $3.2 million from Lahore-based Systems Limited, a technology and business process outsourcing services provider.

Reportedly, Systems made this investment in exchange for a 20 percent stake in the company, with some angel investors also participating in the deal.

In 2015, Saleflo was launched as the country's first software company that built cloud-based sales and distribution platforms for major corporations and FMCG's.

Founded by Yasir Suleman Memon, Sharoon Saleem, Syed Khurram Haider and Ahsan Muhammad Khan, the platform has worked with over 40 corporations, FMCG's, pharmaceutical and distribution companies.

Saleflo's services and platform building have allowed their clients to access over 300,000 retailers across the country.

Saleflo launched Jugnu in 2020, offering a digital platform for small grocery retailers across Pakistan to procure inventory for their establishments through its mobile app and fulfillment centers.

Currently operating in Lahore, Jugnu says it offers store owners next-day delivery for all purchases.

The startup aims to use this latest influx of funds to expand in a highly competitive market, with the likes of Bazaar, Dastgyr, Retailo and Tajir currently operating as well.

With a market cap of $430 million, Systems will serve as a partner to unlock potential, aiming to enhance presence in the digital retail landscape.

Comments

Comments are closed.

Pakistan's Jugnu raises $3.2m from Systems Limited

Intra-day update: KSE-100 up over 800 points amid return of positive sentiment

Second hike in two weeks: Honda Atlas jacks up car prices by up to Rs550,000

Govt projection of achieving $3bn current account surplus in FY23 ‘unrealistic’: PBC

Tariff of indigenous gas-run CPPs likely to be reviewed

Talks extended for two days: IMF demands govt withdraw power subsidy

IHC bars police from taking action against Sheikh Rashid

Former military ruler Musharraf’s body to be flown to Pakistan

Govt schedules All Parties Conference for February 9

All set for inking pact with Denmark under DETI

Major earthquake strikes Turkey, Syria; about 300 dead, many trapped