Qist Bazaar raises $3.2m

Qist Bazaar, the country’s only buy-now-pay-later online platform for the unbanked, announced on Monday that it had secured $3.2 million in Series A funding led by Indus Valley Capital. Moreover, the deal saw participation from Gobi Partners, a prominent Asia-focused venture capital firm with $1.6 billion in assets under management. Qist Bazaar, licenced by the Securities and Exchange Commission of Pakistan as a non-bank financial company, provides installment-based payment solutions to unbanked and underbanked segments. According to a press, the platform had disbursed over 55,000 product-based loans amounting to $12 million in just three years.