Qist Bazaar Secures $3.2M Series A Funding to Scale Its BNPL Platform

Qist Bazaar, a Karachi-based fintech startup, has successfully raised $3.2 million in a Series A funding round. The round was spearheaded by Indus Valley Capital, with additional participation from Gobi Partners. Bank Alfalah, which led the startup’s seed round, has also invested.

Founded in 2021, Qist Bazaar is led by CEO Arif Lakhani and operates as a buy now pay later (BNPL) platform. It is licensed by the SECP as a Non-bank Financial Institution (NBFI) and offers installment payment solutions to a broad customer base, including underserved and unbanked communities in Pakistan. The fintech allows customers to purchase essential goods with flexible payment plans, contributing to greater financial inclusion.

Since its inception, Qist Bazaar has disbursed more than 55,000 product-based loans, totaling $12 million. With the new funding, the company plans to accelerate its growth by broadening its product offerings, strengthening its technology infrastructure, and expanding operations across Pakistan, including establishing a presence in cities like Islamabad, Sukkur, Faisalabad, and Multan, alongside increasing capacity in Karachi and Lahore.

Source: FinSMEs