Bazaar’s $30 Million Series A Funding Round

Allen & Gledhill acted for venture capital firms Wavemaker Pacific 3, L.P. and Defy Partners II, LP.

Bazaar, a year-old B2B marketplace from Pakistan, has raised $30 million in Series A financing co-led by Silicon Valley-based Defy Partner and Singapore-based Wavemaker Partners.

Other investors who took part in the round included US-based Acrew Capital, Japan’s Saison Capital, UAE’s Zayn Capital and B&Y Venture Partners and a Silicon Valley-based growth fund.

Bazaar was founded in June 2020 with the aim of catering small and medium-sized enterprises in Pakistan to procure inventory, manage their bookkeeping and access financial services to simplify and help them grow.

Wavemaker Pacific 3, L.P.  (“Wavemaker SEA Fund III” or “the Fund”) is targeted to be a US$100 million Venture Capital (“VC”) fund focused on seed stage investments in the Southeast Asia (SEA) region. 

Defy Partners II, L.P. operates as a venture capital firm.

The Allen & Gledhill team was led by Counsel Nicholas Soh (Picture). 

Involved fees earner: Nicholas Soh – Allen & Gledhill LLP;

Law Firms: Allen & Gledhill LLP;

Clients: Defy Partners II, L.P.; Wavemaker Pacific 3 LP;

Author: Sonia Carcano