Bazaar Technologies Acquires Keenu to Boost E-Commerce and Fintech Expansion
Bazaar Technologies, one of Pakistan’s fastest-growing e-commerce startups, has acquired digital payments platform Keenu, as it moves toward profitability and strengthens its position in the country’s fintech and retail sectors, according to a report by Bloomberg.
Strategic Acquisition to Build a Unified Retail Ecosystem
Keenu, a leading digital payments provider serving merchants in over 150 cities, brings robust mobile wallet and transaction processing capabilities to Bazaar’s platform. The acquisition is expected to accelerate Bazaar’s goal of creating an integrated ecosystem for retailers and digital payments nationwide.
Strong Investor Backing and Growth Vision
Backed by prominent global investors including Tiger Global, Defy Partners, Wavemaker, and Dragoneer, Bazaar has raised $100 million through two successful funding rounds. The company initially started as a B2B solution helping small retailers manage inventory and orders, but expanded into direct-to-consumer sales in 2024.
With over 50% of Pakistan’s population under the age of 30, Bazaar sees fintech as a strategic focus to tap into the country’s growing digital economy.
Focus on Profitability, Not New Funding
Despite the high-paced growth, Bazaar has stated that it maintains a strong balance sheet and is not currently seeking new funding. The company is instead prioritizing scaling operations and delivering long-term value across Pakistan’s e-commerce and financial services landscape.
