KARACHI: Dastgyr, a B2B marketplace based out of Karachi connecting suppliers to mom-and-pop retailers, has raised a $3.5 million seed round led by SOSV. This takes the total capital secured so far to $4m, including the angel round in July 2020.
With fresh capital in the kitty, the startup wants to mark its entry into the fintech space by offering products to kiryana stores. According to a press release, it aims to connect over two million underserved retailers in Pakistan directly to manufacturers, distributors, and wholesalers to fix what is currently a fragmented supply chain and will deploy this seed funding to launch products for financial inclusion in Q3 2021.
A Dawn.com report says that on top of further building the tech stack and expanding the already 280-odd team, “the funds will be deployed towards officially launching new fintech solutions that Dastgyr’s team has already been experimenting with, including ‘Buy Now Pay Later’.
“Access to financing options will ultimately enable them to have more purchasing power and expand their businesses to include more categories, improve store capacity, or purchase new equipment like refrigerators and shelves,” said the press release.
Founded in 2020 during the height of Covid-19, Dastgyr is a B2B marketplace app that enables retailers to order wholesale inventory of over 2,000 stock-keeping units (SKUs) with guaranteed next-day delivery and telephonic helpline support. Product categories on the app include fast-moving consumer goods, stationery, mobile accessories, and more.
Published in Dawn, July 27th, 2021