An event platform built for your creative efforts to succeed.

Pakistan-based e-commerce marketplace Dastgyr raises funds to bolster expansion efforts

Pakistan-based e-commerce marketplace Dastgyr raises funds to bolster expansion efforts
  • Trying to make sense of overflowing marketing data and information? Join marketing leaders from BigPay, Entropia, MSL Malaysia, Popeyes, and Vase.ai uncover the best approaches this July 27 at Consumer Insights Power-Up 2022. Register now for FREE!

Amsterdam, Netherlands — Dastgyr, a Pakistan-based B2B e-commerce marketplace platform, has announced it has secured a US$15m investment as part of a series A funding. This investment will contribute to boosting Pakistan’s e-commerce market. The investment was supplied by VEON, a digital operator that provides mobile connectivity and services through its VEON Ventures division.

Dastgyr offers businesses a one-stop-shop application that connects thousands of retailers with suppliers to give them access to real-time visibility on pricing and financing rates. Platform partners have included Coca-Cola, Nestle, and Reckitt.

Dastgyr will remain an independent entity, with a minority position being taken by VEON Ventures. The new investment round will support Dastgyr’s expansion into 15 new cities in Pakistan, alongside its existing network in Karachi, Lahore, Sialkot and Gujranwala.

Zohaib Ali, co-founder of Dastgyr, shared, “We are thrilled to achieve this milestone in the current global economic environment. We welcome the new investors to the Dastgyr family as we continue to work relentlessly toward our vision of building an Alibaba for emerging markets worldwide.”

Ali adds, “We’re lucky to have found strategic partners who believe in our mission and have displayed unwavering faith in our team. Financial inclusion, which is central to the startup’s mission, will uplift and enable Pakistan’s small- and medium-sized retail entrepreneurs, potentially unlocking up to an additional US$10b for the country’s GDP, according to our estimates.”

Meanwhile, Mohd Khairil Abdullah, CEO of VEON Ventures, said, “As part of VEON’s transformation into a digital operator that delivers a growing range of services to our customers we are investing in leading digital companies like Dastgyr in the countries where we operate. These investments are the building blocks of the digital ecosystem that will enable us to deliver on our strategy.”

The deal is VEON Ventures’ largest investment in a Pakistani start-up and reflects the group’s continued commitment to the region and to the growth of Pakistan’s digital economy.

  • Box_2022 Global Customer Engagement Review

    The voice of 1,500+ global marketing decision-makers is collected to bring you the top trends in customer engagement for this year. Learn more about the state of customer engagement in APAC. Download the 2022 Global Customer Engagement Review.

  • The Brand Love 2022 report is here. In this report, Talkwalker and Hootsuite analysed over 1,500 brands to identify the ones driving consumer passion globally and in Southeast Asia. Learn how these brands are engaging their audience and how you can boost your own brand love – download the report now.

Share this story