Markaz Technologies raises $2.4 million in seed funding

Markaz Technologies is an Islamabad based new startup having a bunch of energetic youngsters whose key aim is to provide micro- entrepreneurs with quality and comfort. The company has recently announced that they have secured $2.4 million in seed funding.

The Markaz Technologies was founded in 2021. The founders Shoaib Khan, Fawad Hussain, Sameel Hayat and Umair Aslam came together from all across the country and they had work experience of Telenor, Amazon, Easypaisa and Alipay. With this diverse work experience and PR they decided on a business plan and started the company. Indus Valley Capital (IVC) has gone in partnership with Markaz to help them bringing their dreams come true.

The whole investment has been led by IVC. The other investors include Kyane Kassiri from Suya Fund and executives from Careem, Deloitte, Amazon and Gojek.

Markaz Technologies is a Y-Combinator-backed by the prestigious US-based accelerator — startup. It provides an online reselling platform to people who want to sell their wholesale products online in Pakistan from across the country from their own website. The wholesaler can sell their product with a profit through their own social media stores and they don’t have to do any investment of their own.

This is a great opportunity for the small businesses and entrepreneur who usually don’t have a platform to sell their products. This will bring them into the financial ecosystem. The team also wants to add in to e-commerce success path making things available to masses in easy way. The small businesses in the villages will get benefited from this startup. Also the people would get the products in wholesale rates from the manufacturer so the consumer will also get the advantage of money.

Markaz Technologies will utilize the seed funding to further scale up its mobile platform and will also put efforts on enhancing the delivery options and payments. In a nutshell, the company is trying to give an outclass user experience through this platform.

Also Read: medIQ, a Pakistani Health Startup, Raises 1.8 Million   

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Fizza Atique

Fizza Atique is a Tech writer specializing in the intersection of tech and culture. She likes photography, VR, electronic music, coffee, and baking.

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