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Karachi’s Zaraye Raises $2.1 Million in Pre-Seed Investment

bySuneela Zulfiqar
April 14, 2022
in Economy, Finance
Reading Time: 1 min read
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Karachi’s Zaraye Raises $2.1 Million in Pre-Seed Investment
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Zaraye, a Karachi-based Business – to – business raw materials marketplace, has raised $2.1 million in a pre-seed round led by Tiger Global and Zayn Capital.

+92 Ventures, Alan Rutledge, Jack Rizvi, and current and former Careem employees in important roles are among the other investors. Tiger Global is making its first pre-seed investment in Pakistan.

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Zaraye, which was founded in late 2021, assists manufacturing companies in obtaining raw materials and financing operating capital. With over 300 partners and suppliers scattered across 20+ locations, it now serves clients in the textile and construction sectors.

With a $35 billion raw material market, Pakistan’s industrial manufacturing industry provides 20% of the country’s GDP, with raw materials contributing 60-65% of overall expenses for manufacturers. When net margins are narrow, developing cost-cutting efficiency is vital for small organizations to get orders and continue operating against local and worldwide competition. Furthermore, SMEs have traditionally found obtaining finance from banking institutions to be a tremendous battle for their firms, forcing them to turn to informal markets with 2.5x surcharges.

Tags: country's GDPlatestraw materials marketplaceTiger GlobalZaraye
Suneela Zulfiqar

Suneela Zulfiqar

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