Pakistans Dastgyr [https://www.linkedin.com/company/dastgyr/] Technologies Pvt., which aims to create an e-commerce platform similar to Alibaba Group Holding Ltd. for emerging markets, raised $37 million in the countrys largest-ever Series A funding.
The online marketplace that started less than two years ago has been used by about 100,000 retailers in the five cities it operates.
It seeks to keep costs low by connecting buyers and sellers over a digital platform, rather than buying and storing everything in physical warehouses.
It plans to expand into 15 new markets in Pakistan and expand into a new country in 2022.
The company continues to work relentlessly toward our vision of building an Alibaba for emerging markets worldwide, said Zohaib Ali [https://www.linkedin.com/in/ACoAAApz028BDfLWqCkiUzY_oCQIZBTFQx02xv4], co-founder of Dastgyr.
Dastgyr has started a Buy Now Pay Later offering and plans to introduce lending products for its sellers as well. It aims to become a unicorn in the next few years, Muhammad Owais [https://www.linkedin.com/in/ACoAABG_6GIBWdGUzEnxJqvn2pKcycBwHMALuVc], another co-founder, said in an interview.
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