Pakistani startup gets 1.8 million
The Pakistani startup, Tajir, is a B2B e-commerce marketplace for neighborhood convenience stores.
Pakistani startup gets 1.8 million dollars for B2B operations. The confirmation of funding of $1.8 million was in a recent financing round from a cohort of institutional and angel investors.
Tajir was started in 2018 by brothers and co-founders Babar and Ismail Khan. It has backing of Y-Combinator – an American seed money startup accelerator. The Y-Combinator is one of the most prestigious startup accelerators in the world.
ALSO READ: There Is Another Pandemic Coming By The End Of 2020
Other investors in the company include San Francisco-based Pioneer Fund — an investment fund created by Y-Combinator (YC) Alumni to support fellow YC companies, GoldenGate Ventures, Karavan, VentureSouq and a few angel investors.
What is Tajir?
Tajir is focusing on fixing the problem of informal and fragmented retail in Pakistan. The company states that 91 per cent of retail in the country flows through small, family-owned convenience stores.
Owing to the problem of fragmentation, these stores struggle to buy inventory and spend hours every week dealing with dozens of different suppliers. They also deal with late, incorrect and uncertain deliveries. As a result, stores overpay for inventory, fail to get stock when they need it, and suffer lower incomes. At the same time, suppliers miss out on sales from eager customers.
Through Tajir’s application, storeowners can order inventory whenever they want, receive on-demand delivery, enjoy transparent, competitive prices, and choose from the largest selection of products available.
You cna download the Tajir App from Google Play Store here.
2020 looks like a promising year for startups. Only a few days ago, another B2B e-commerce marketplace Bazaar announced raising $1.3 million in what they claimed was the country’s largest-ever pre-seed round from foreign and local investors. The overall ticket size of funding has seen an increase and foreign investors are showing trust in Pakistan’s startup ecosystem. But will these startups remain successful in keeping this trust is what remains to be seen.
Follow us on Twitter: @Factfilepk and Facebook: factfilepk.
One Response
Like!! Great article post.Really thank you! Really Cool.