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Bazaar Technologies has completed the acquisition of Keenu to support the five-year-old startup’s aim of building the country’s largest e-commerce and fintech platform.
Bazaar Technologies Pvt., founded in 2020 by Hamza Jawaid and Saad Jangda, is aiming to achieve profitability in the coming quarters. The Bazaar acquisition of Keenu, Pakistan’s largest independent digital payments platform, is seen as a step toward this objective. Through this deal, Bazaar intends to develop an integrated shopping and payments ecosystem in Pakistan, similar to models used by companies like Alibaba and MercadoLibre in other markets.
Since its launch, Bazaar has secured $100 million across two funding rounds—a record for a Pakistani startup. Supported by investors including Tiger Global Management, Defy Partners, Wavemaker, and Dragoneer Investment Group, the company has continued its operations despite broader economic challenges in the tech industry.
Bazaar co-founder Hamza Jawaid emphasized their financial strength, stating, “Right now we have a very strong balance sheet, which is why we were able to make more inroads and make this acquisition.”
Not actively seeking more funding, Bazaar is now laser-focused on expansion. Originally launched to help merchants buy inventory and manage their platforms, Bazaar ventured into direct-to-consumer sales in 2024.
With more than half of Pakistan’s population under 30, Bazaar sees massive potential in integrating fintech solutions to attract tech-savvy consumers. Keenu, which connects merchants in over 150 cities and runs mobile wallets and digital payments, perfectly aligns with Bazaar’s strategy.
Celebrating the milestone on social media, Jawaid wrote:
“Exactly 5 years ago, Saad Jangda and I started out with a singular dream to build a technology story for Pakistan. Today, I am proud to announce that dream takes a giant leap forward Alhamdulillah. Bazaar Technologies has acquired Keenu—Pakistan’s largest independent fintech and payments company.
Despite all the headlines, the exits, the odds—Pakistan’s technology story is yet to be fully written. We’re just getting started insha’Allah.”
The Bazaar acquisition of Keenu not only strengthens its payment infrastructure but also lays the groundwork for Pakistan’s digital economy to thrive, combining robust e-commerce with a full suite of financial services.
