Unbanked population in Pakistan receives $3.2 million in Series A funding for Qist Bazaar's Buy Now Pay Later platform expansion
Qist Bazaar: Empowering Pakistani Consumers with Buy Now Pay Later Services
Based in the bustling city of Karachi, Qist Bazaar is a pioneering Buy Now Pay Later (BNPL) fintech platform in Pakistan, serving the unbanked and underbanked majority of the country[1]. Founded in 2021 by Arif Lakhani, the platform aims to revolutionise the way people access consumer credit, particularly for essential and desired items such as mobile phones, motorbikes, and laptops[2].
Recently, Qist Bazaar raised $3.2 million in its Series A funding round in 2025, led by Pakistan-focused VC Indus Valley Capital and Asian investor Gobi Partners[3]. The funds will be used to expand the platform's product portfolio, enhance technology, and scale operations across the country, further cementing its commitment to financial inclusion[4].
In just three years, Qist Bazaar has disbursed over 55,000 product loans totalling $12 million[5]. The platform operates through its website and showrooms across various cities in Pakistan, catering to diverse customer groups, including those with no financial history and individuals already banking at established financial institutions[6].
One of the key impacts of Qist Bazaar's platform is providing an alternative credit system to the significant underbanked population in Pakistan, enabling easier access to consumer goods[7]. Additionally, the platform supports the digital economy by integrating installment payments with popular e-commerce products[7]. By allowing consumers to buy essential and desired items without upfront full payments, Qist Bazaar helps smooth cash flow challenges for lower-income segments[7].
As a licensed Non-banking Financial Company (NBFC) by the Securities and Exchange Commission of Pakistan (SECP), Qist Bazaar operates with a strong regulatory framework, ensuring the safety and security of its customers' transactions[6].
In summary, Qist Bazaar is a fintech startup that is bridging the credit gap for Pakistan’s unbanked majority via BNPL services, backed by a $3.2 million Series A funding round to scale its inclusive financial services[1][4]. With its focus on digital integration, financial inclusion, and customer-centric approach, Qist Bazaar is set to play a significant role in shaping Pakistan's digital economy.
[1] https://www.qistbazaar.com/ [2] https://www.techjuice.pk/qist-bazaar-raises-3-2-million-in-series-a-round-led-by-indus-valley-capital-and-gobi-partners/ [3] https://www.techjuice.pk/qist-bazaar-raises-3-2-million-in-series-a-round-led-by-indus-valley-capital-and-gobi-partners/ [4] https://www.techjuice.pk/qist-bazaar-raises-3-2-million-in-series-a-round-led-by-indus-valley-capital-and-gobi-partners/ [5] https://www.techjuice.pk/qist-bazaar-raises-3-2-million-in-series-a-round-led-by-indus-valley-capital-and-gobi-partners/ [6] https://www.techjuice.pk/qist-bazaar-raises-3-2-million-in-series-a-round-led-by-indus-valley-capital-and-gobi-partners/ [7] https://www.techjuice.pk/qist-bazaar-raises-3-2-million-in-series-a-round-led-by-indus-valley-capital-and-gobi-partners/
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