Qist Bazaar has raised US$3.2 million in Series A funding led by Indus Valley Capital, aiming to expand its Buy Now Pay Later services and enhance financial inclusion in Pakistan.

Information on the Target

Qist Bazaar, the leading Buy Now Pay Later (BNPL) fintech startup in Pakistan, has successfully secured US$3.2 million in its Series A funding round, marking a significant milestone in the company's growth. Renowned venture capital firm Indus Valley Capital led the funding, with participation from Gobi Partners, which has a substantial US$1.6 billion in assets under management. Additionally, Bank Alfalah, one of the largest commercial banks in Pakistan, was an early investor during Qist Bazaar's seed round. This transaction represents the first collaboration between an international venture capital firm and a prominent Pakistani bank in the BNPL fintech sector, underscoring the rapid evolution of consumer financing in Pakistan.

Qist Bazaar is licensed by the Securities and Exchange Commission of Pakistan (SECP) as a Non-bank Financial Company (NBFC) and specializes in offering installment-based payment solutions to the unbanked and underbanked population segments. Within three years of operations, Qist Bazaar has disbursed over 55,000 product-based loans totaling $12 million, allowing a diverse range of Pakistanis to afford essential goods—like mobile phones and home appliances—through manageable monthly payments.

Industry Overview in Pakistan

The consumer financing landscape in Pakistan has witnessed significant transformation over recent years, primarily driven by the rising popularity of BNPL solutions. With a large portion of the population remaining outside traditional banking syste