Jugnu, a B2B ecommerce platform situated in Karachi, and its parent firm Saleflo have raised $3.2 million from Lahore-based Systems Limited, a provider of technology and business process outsourcing services.
According to reports, Systems made this investment in exchange for a 20% share in the company, with the participation of certain angel investors.
Saleflo was founded in 2015 as the country’s first software firm dedicated to developing cloud-based sales and distribution platforms for large organisations and fast moving consumer goods companies.
Yasir Suleman Memon, Sharoon Saleem, Syed Khurram Haider, and Ahsan Muhammad Khan founded the platform, which has collaborated with over 40 corporations, FMCG firms, pharmaceutical businesses, and distribution firms.
Saleflo’s services and platform development have enabled their clients to connect with over 300,000 retailers nationwide.
In 2020, Saleflo developed Jugnu, a digital platform that enables small food shops across Pakistan to acquire merchandise for their locations via its mobile app and fulfilment centres.
Jugnu, which is now based in Lahore, claims to offer store owners next-day delivery on all sales.
The business intends to leverage this latest round of funding to expand in a highly competitive market that already includes Bazaar, Dastgyr, Retailo, and Tajir.
Systems, which has a market capitalization of $430 million, will act as a catalyst for growth, aiming to strengthen its presence in the digital retail scene.