Bazaar Technologies Expands Into Digital Payments

Bazaar Technologies has received approval from Competition Commission of Pakistan to acquire a 100% stake in Wemsol Private Limited. This move expands Bazaar’s presence into fintech, adding digital payments to its e-commerce and wholesale operations.

Bazaar Technologies, founded in 2020, connects small retailers with suppliers. It has raised over $100 million from investors like Tiger Global Management, Dragoneer Investment Group, and Indus Valley Capital. With operations across Pakistan, it simplifies procurement and inventory management for SMEs.

Wemsol, led by Nadeem Hussain, operates Keenu, a key player in digital payments. It provides POS solutions, digital wallets, and payment gateways for businesses. The acquisition will help Bazaar Technologies integrate fintech solutions, making transactions smoother for SMEs.

The Competition Commission of Pakistan reviewed the merger and found no concerns about market concentration. Since Bazaar Technologies and Wemsol operate in different sectors, the transaction is seen as a strategic expansion rather than a competition risk.