Daraz is an e-commerce portal founded in 2012 that began as a fashion site and expanded into home and other categories. The company positions itself as the biggest e-commerce platform in Pakistan, Bangladesh and Myanmar. It operates in underdeveloped frontier markets with low internet penetration and infrastructure challenges, though Rocket Internet and Daraz see rapid market development and rising online consumer demand. Daraz has received its first major external funding and is not disclosing valuation or current business figures. The announced funding is intended to continue growth in existing markets and to support expansion into other frontier Asian markets. CDC highlighted that the investment should help professionalize local retail, logistics and technology sectors and create several thousand direct and indirect jobs over the next five years.

Total raised

$56M

Funding rounds

1

Latest round

Equity

Latest activity

Sep 2015