As per sources, A Karachi-based B2B Ecommerce Marketplace Jugnu and Its Parent Company Saleflo Raised $3.2M (PKR 518 million) From Lahore-based Systems Limited.
Their objective is to use funds to grow in a very competitive market, said sources.
The startup goal is to use this latest flood of funds to expand in a highly competitive market, with the likes of Bazaar, Dastgyr, Retailo, and Tajir currently operating as well.
With a market value of $430 million, Systems will serve as a partner to unlock potential, aiming to improve its presence within the digital retail environment.
According to the official reports, in 2015, a software company “Salesflo” started, and they built the country’s first cloud-based platform for FMCGs. Through its software, “Salesflo” has worked with 40 enterprise FMCGs, pharmaceutical, and distribution companies, and helped them to get access to over 300,000 retailers across the country.
And then Salesflo launched Jugnu in 2020, making it possible for small grocery stores in the country to get stock for their stores. Jugnu is currently working in Lahore, providing its services to thousands of grocery stores through its mobile app and fulfillment centers, and offers store owners next-day delivery for all purchases.