Qist Bazaar secures PKR 800 million in Series A funding

Qist Bazaar, a rapidly growing buy-now-pay-later (BNPL) platform in Pakistan, has raised approximately PKR 800 million ($2.8 million) in Series A funding.

The funding round saw a significant contribution from Bank Alfalah, which invested an additional PKR 55 million and extended PKR 460 million in debt lines to Qist Bazaar.

Qist Bazaar has experienced remarkable growth, now operating 40 branches across seven cities, with a primary focus on serving Pakistan's unbanked and underbanked populations.

Atif Bajwa, President and CEO of Bank Alfalah, highlighted the impact of their investment, stating, “By investing an additional PKR 55 million in Qist Bazaar and extending PKR 460 million in credit facility, we are fueling the growth of a dynamic startup and paving the way for innovative payment solutions. These initiatives empower citizens with easy installment options, making financial services more accessible. By working with startups like Qist Bazaar, we can drive a more inclusive and digitally empowered future for our country.”

Arif Lakhani, CEO of Qist Bazaar, also commented on the company's success, saying, “With over 75,000 Pakistanis benefiting from our collaboration, we are shifting gears to accelerate financial inclusion at an even greater scale. This investment, led by Indus Valley Capital with Gobi Partners, coupled with the debt financing, marks another milestone in our investor's commitment to fostering innovation and bridging the financial gap for underserved communities.”