Led · Equity · May 2023

Qist Bazaar operates a BNPL platform licensed by the SECP as a Non-bank Financial Institution (NBFi), offering installment payment solutions and flexible plans for essential goods to promote financial inclusion. Founded in 2021 and led by CEO Arif Lakhani, the company targets unbanked and underserved communities across Pakistan. In three years the platform has disbursed over 55,000 product-based loans totaling $12 million. Qist Bazaar has launched a dealer network to enable third parties to market its payment plans and has begun B2B2C initiatives with early wins among major textile partners. The company plans to expand its product portfolio, introduce categories such as solar power generators for small households, enhance its technology infrastructure, and scale operations across additional Pakistani cities. It is increasing capacity in Karachi and Lahore and intends to establish a presence in Islamabad, Sukkur, Faisalabad, and Multan. QistBazaar operates a Buy Now Pay Later (BNPL) platform that provides 12-month instalment plans for consumer durables, serving customers with limited or no formal credit history. The company is SECP-licensed and describes itself as an NBFC platform that has been EBITDA positive since day one. Since inception in 2021 it has delivered over 20,000 products and, per the CEO, served over 17,000 Pakistanis, while maintaining a dataset spanning 250,000+ individuals to inform its scoring. QistBazaar’s eligibility criteria targets “Every Pakistani,” from unbanked users to those with established bank accounts. Its sales include an element of extra profit on each 12-month sale structure. Through the new partnership with Bank Alfalah it plans to integrate Shariah-compliant embedded lending and enhanced digital financing products to deepen reach and improve customer experience. The deal is positioned to expand financial inclusion by offering affordable monthly payments and embedded consumer durables financing to underserved customers.