Markaz Technologies, an online resale startup based in Islamabad, has received $2.4 million in seed funding.
Markaz Technologies is a firm supported by Y-Combinator, a famous US-based accelerator. It offers an online resale platform to people who want to sell their wholesale products online in Pakistan from anywhere in the country. The distributor can profitably offer their product through their social media outlets without having to make any investments.
This is a fantastic chance for small businesses and entrepreneurs that don’t have access to a platform to market their goods. This will allow them to participate in the financial system.
Markaz claims to be on a mission to “supercharge the rails of e-commerce in Pakistan and make it accessible to the public by empowering these micro-entrepreneurs.”
IVC Founder and Managing Partner Aatif Awan were described in the press release as saying, “Markaz is built for all of Pakistan, to enable those in smaller cities and villages to source products directly from wholesalers and suppliers.”
Along the way, Awan claims, the startup will build “hundreds of thousands of micro-entrepreneurs” and integrate them into the banking system. “We at IVC are ecstatic to be working with Markaz to assist them to achieve their purpose,” he stated.
Markaz Technologies will use seed financing to expand its mobile platform and improve delivery and payment alternatives. In a word, the organization is using this technology to provide an exceptional user experience.
Image Credit: Markaz Technologies