QistBazaar, Pakistan’s leading e-commerce startup, has reported Rs 1 billion in sales, in just 17 months since it was founded in November 2021.
As a rapidly growing BNPL (Buy Now Pay Later) platform, and working as a licensed NBFC (Non-Banking Finance Company), QistBazaar aims to uplift the living standard of Pakistani citizens by making over 400 products easily accessible at affordable monthly installments.
Over 15,000 customers have availed QistBazaar’s plans in this period, to clock up Rs one billion in sales.
Mobile phones, refurbished laptops, refrigerators, LED TVs, motorcycles, and ceiling fans are among the most popular purchase items on the platform.
“We have crossed a milestone not only for sales but for making a positive impact on the lives of others,” stated Arif Lakhani, co-founder of Qistbazaar.
The company’s “focus is to especially support the population who are unbanked and with zero credit score. From a bun kabab wala to an unemployed man buying a motorcycle to become a delivery rider, to a rickshaw driver getting a phone to connect with passengers, or to a gig worker buying a laptop to earn extra income from home, we are enabling people to earn livelihoods and grow for themselves.”
- 57% of total customers earning less than Rs 45,000 per month
- 70% of customers are below 35 years of age.
- 4-% customers are micro-business owners like thela walas (cart vendors) and others
The platform provides personalized support to ensure that customers get the help they need and when they need, it through a well-trained digital team, eight facilitation centers, and a women’s branch purely catering to women customers, acting as madadgars (helpers).
The platform’s growing popularity is attributed to the fact that everyone is eligible to buy at Qistbazaar, not just those with credit cards or bank accounts, according to the company.
Payments can be made by cheques, online bank transfers, Jazzcash, EasyPaisa and cash on delivery, with early repayments also allowed.