Zarya raises $1.7 million pre-seed to build a ‘Meesho for Pakistan:
Lahore, Suraya-based business-to-business e-commerce platform raised 1.17 million in a pre-seeded round led by one of MENA's top venture capitalists, Raed Ventures, with participation from Fatima Gobi Ventures, Class 5 Global , Global Founders based in US Capital. I've done Egyptian social commerce startup Taager, which raised 6.4 million in the badge round earlier this year, also joined the round.
Founded earlier this year by brothers Faisal and Saad Zahid, Suraya uses its platform to enable small suppliers (mainly housewives) to source a variety of products, including women's and children's clothing, and its network. It allows me to sell Startup takes care of the entire process, from obtaining the products to delivery and payment, and transfers the profits to each seller when the sales are completed.
This social selling concept was introduced by Misho in India and has been adapted by various startups in emerging markets, including Bremer and Tager from Egypt. Launched in 2015, Mesho has raised more than $ 1 billion in funding so far and was valued at close to $ 5 billion in its most recent funding round.
Zarya currently has over 3,000 products on her platform and plans to add more by introducing categories like abayas, shoes, home textiles, and makeup.
Commenting on the occasion, Faisal Zahid, co-founder of Suraya, said: “Pakistan has 100 million YouTube and 45 million Facebook users. Pakistani social media users spend more than 3 hours a day on social media apps. If you spend a lot of time online, it is natural to start buying and selling on social media apps. We want to give our sellers every opportunity to thrive in this environment. "
He was previously a product manager at Kareem. Before founding Suraya, Faisal was senior director of product management at Saudi grocery delivery startup Nana.
Commenting on the investment, Weil Nafi, Director of Raed Ventures, said: "Raed sees a growing social space in the MENAP area. Markets such as India, China and LATAM are showing early signs of potential. Initial product and commercial traction. Zarya Value in Pakistan demonstrates its great ability to provide the expertise independent sellers need, Raed is delighted to partner with Suraya and his team.
The startup intends to use the funds to expand its offering to sellers.
Lahore-based Zarya, which positions itself as a digital wholesaler for sellers, today said in a statement that their startup had raised $1.7
Pakistani online marketplace Zarya has raised $1.7 million in its latest funding round, led by Raed Ventures
Post a Comment