{"id":329985,"date":"2021-08-25T09:17:29","date_gmt":"2021-08-25T06:17:29","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/pakistani-blockchain-marketplace-completes-record-30m-raise\/"},"modified":"2021-08-25T09:17:29","modified_gmt":"2021-08-25T06:17:29","slug":"pakistani-blockchain-marketplace-completes-record-30m-raise","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/pakistani-blockchain-marketplace-completes-record-30m-raise\/","title":{"rendered":"# Pakistani blockchain marketplace completes record $30M raise"},"content":{"rendered":"

“# Pakistani blockchain marketplace completes record $30M raise <\/strong>”
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Pakistani blockchain-powered business-to-business (B2B) marketplace, Bazaar Technologies, has secured $30 million in the country\u2019s largest Series<\/a> A round to date.<\/p>\n

Bazaar announced<\/a> the closure of its latest raise on Aug. 24, revealing that th Silicon Valley-based Defy Partners and Singapore\u2019s Wavemaker Partners had led the funding round.<\/p>\n

The round also saw participation from dozens of other investors, including Endeavor, LinkedIn, Japan\u2019s Saison Capital, and existing investors Indus Valley Capital and Alter Global.<\/p>\n

Bazaar claims to be the leading B2B marketplace platform for small merchants in Pakistan, serving 750,000 merchants spanning 400 towns and villages.\u00a0Many of Bazaar’s users are small \u2018mom-and-pop\u2019 grocery stores (locally known as \u201ckiryana\u201d stores) which use the platform to purchase inventory from suppliers.<\/p>\n

Bazaar\u2019s latest round brings the firm\u2019s total funding to $37.8 million, building on its $6.5 million<\/a> seed round in January of this year and $1.3 million pre-seed round in June 2020.\u00a0<\/p>\n

Bazaar was founded by Saad Jangda and Hamza Jawaid in 2019. Janga previously worked as a product manager at local Uber subsidiary, Careem, while Jawaid worked for management consulting firm, McKinsey. <\/p>\n

Related: <\/em><\/strong>Crypto users demand reinstatement of Pakistani government adviser following sudden resignation<\/em><\/strong><\/p>\n

Pakistan’s government has made moves to develop a more permissive regulatory app<\/a>aratus for the nation\u2019s crypto sector in recent months.<\/p>\n

In November, Pakistan\u2019s Securities and Exchange Commission published a consultation paper exploring the benefits of crypto assets and tokenization. The document also welcomed industry feedback on how local regulations should be developed.<\/p>\n

In March, the Pakistani province of Khyber Pakhtunkhwa announced it would host two hydro-powered crypto mining farms for a state-backed mining pilot.<\/p>\n