Bank Alfalah Invests in Qist Bazaar: PKR 55M Equity & PKR 460M Credit to Expand BNPL Services
- Abeera Marium Siddiqui
- February 14, 2025
- 6:27 pm
- 235
- Business
Bank Alfalah invests in Qist Bazaar to enhance financial inclusion in Pakistan. The bank has injected an extra PKR 55 million into the growing buy-now-pay-later (BNPL) platform. This funding is part of Qist Bazaar’s Series A round, which raised a total of PKR 800 million. By making this investment, Bank Alfalah shows its strong belief in the platform’s vision and its rapid expansion.
Apart from the equity investment, Bank Alfalah has also provided Qist Bazaar with PKR 460 million in credit. This pre-approved facility allows the startup to access funds whenever needed. It will help them expand and offer financial services to Pakistan’s unbanked and underbanked communities.
Qist Bazaar’s Growth and Social Impact
Qist Bazaar has made significant progress. It now operates 40 branches across seven cities in Pakistan. The platform offers installment-based payment solutions, allowing many people and small businesses to access essential products. By serving the unbanked population, Qist Bazaar helps bridge financial gaps and empowers people economically.
Atif Bajwa, President and CEO of Bank Alfalah, shared the bank’s excitement about this investment. He said, “Investing PKR 55 million more into Qist Bazaar and giving them PKR 460 million in credit will help grow this dynamic startup. These efforts will make financial services more accessible and provide easy installment options for many citizens. We are proud to partner with startups like Qist Bazaar to build a more inclusive and digitally empowered future for Pakistan.”
Investor Confidence and Future Prospects
Arif Lakhani, CEO of Qist Bazaar, praised the support from Bank Alfalah. He said, “With over 75,000 Pakistanis benefiting from our services, we are accelerating financial inclusion across the country. This investment, led by Indus Valley Capital with Gobi Partners, marks a key moment for us. The credit funding will strengthen our ability to serve the unbanked and underserved communities more effectively.”
The partnership between Bank Alfalah and Qist Bazaar is an important step forward for Pakistan’s fintech ecosystem. This collaboration is helping to make financial services more accessible and encourage innovation. With the continued support from investors, Qist Bazaar is set to grow and redefine the BNPL landscape in Pakistan.
For More Such Blogs, Explore Genuine Gaze
