Qist Bazaar, a Buy Now Pay Later (BNPL) fintech startup has successfully raised $3.2 million in its Series A funding round. The investment was led by Indus Valley Capital, with participation from Gobi Partners and Bank Alfalah.
Qist Bazaar, licensed by the Securities and Exchange Commission of Pakistan (SECP), has been providing installment-based payment solutions to unbanked and underbanked segments of the population. In just three years, the platform has disbursed over $12 million in product-based loans, enabling thousands of Pakistanis to purchase essential goods through affordable monthly payments.
Qist Bazaar’s inclusive approach has made it a pioneer in the Pakistani BNPL market. The platform caters to a diverse range of customers, including those with no financial history, domestic workers, rickshaw drivers, students, and micro-entrepreneurs. By adopting a simple eligibility criterion and a hybrid scoring model, Qist Bazaar has made it easier for unbanked consumers to access formal credit.
Qist Bazaar has secured strategic partnerships with leading financial institutions, including Bank Alfalah, which led the seed round. This collaboration will provide Qist Bazaar with access to debt financing, further enhancing its ability to serve customers.
Indus Valley Capital, a prominent investor in Pakistan, recognized Qist Bazaar’s potential to reshape consumer financing in the country. Gobi Partners, an Asia-focused venture capital firm, also participated in the Series A round, highlighting the company’s strong growth prospects and potential for success.
Qist Bazaar has achieved remarkable financial performance, operating EBITDA-positive since its inception. This demonstrates the company’s strong unit economics and focus on sustainable growth.
With the new funding, Qist Bazaar plans to accelerate its growth by expanding its product portfolio, enhancing its technology infrastructure, and scaling operations across Pakistan. The company aims to establish a presence in major cities and introduce new product categories, such as solar power generators. Qist Bazaar is also actively expanding its dealer network and exploring B2B2C opportunities.
Founded in 2021, Qist Bazaar is a leading BNPL fintech platform in Pakistan. It provides installment payment solutions to all Pakistanis, regardless of their financial history. Qist Bazaar is committed to financial inclusion and empowering individuals to purchase essential goods through affordable monthly payments.
