Friday, September 24, 2021

Dastgyr Secures $3.5 Million in Seed Capital

Dastgyr, a B2B marketplace in Pakistan that connects suppliers with mom-and-pop shops, has secured $3.5 million in a seed round headed by SOSV.

SME retailers are the backbone of Pakistan’s economy, accounting for around $125 billion in combined sales, or about 30-40% of the country’s GDP.

Dastgyr wants to use a near-perfect supply chain and financial inclusion to empower and uplift this section and improve their participation.

It also seeks to connect Pakistan’s nearly 2 million underserved retailers, as well as millions more in other emerging countries, directly to manufacturers, distributors, and wholesalers. Dastgyr is also looking to fix a fragmented supply chain, and will use this seed funding to launch financial inclusion products in Q3 2021.

Dastgyr is a B2B marketplace app that allows retailers to order a wholesale inventory of over 2,000 stock-keeping units (SKUs) with guaranteed next-day delivery and telephonic helpline support. It was founded in 2020 during the height of the pandemic.

Fast-moving consumer products, stationery, smartphone accessories, and other items are among the product categories available on the app.

Dastgyr’s seed round, which was led by SOSV, featured ADB Ventures, the Asian Development Bank’s venture capital arm, Seedstars, and Edgebrook Partners, all of which were making their first investments in Pakistan.

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