Pakistan’s Zaraye, a B2B supplies platform, raises $2.1M from Tiger Global and Zayn
https://techcrunch.com/2022/04/14/pakistans-zaraye-a-b2b-supplies-platform-raises-2-1m-from-tiger-global-and-zayn/
Obtaining raw materials is a major pain point for Pakistan’s manufacturers, who need to have multiple phone calls with suppliers while waiting for rates, say the founders of Zayare. The startup, which runs a platform that connects manufacturers directly with suppliers, announced today it has raised $2.1 million in pre-seed funding from Tiger Global and Zayn Capital. This marks the first time Tiger Global has made a pre-seed investment in a Pakistani startup. Other investors include +92 Ventures, Alan Rutledge, Jack Rizvi and current and former employees of Careem.
The startup was founded in late 2021 by Taha Iqbal Teli, Hashair Junair Ahmedani and Ahshan Ali Khan, who went to school together. Zaraye also provides manufacturing businesses with working capital, in addition to raw materials. It currently serves the textile and construction industries, with more than 300 partners and suppliers in about 20 cities.