CEO Jazz Aamir Ibrahim & Executive Director Dastgyr Saif Ali | TBT

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CEO Jazz Aamir Ibrahim & Executive Director Dastgyr Saif Ali​

In tonight’s conversation with our special guests, Aamir Ibrahim and Saif Ali. What has Aamir's journey been like? When and how did he join Mobilink? How was Jazz launched? How did his career progress? When did they acquire WARID and how did it convert into JAZZ? How has Jazz evolved over time? What are their goals to make Pakistan digital? What was the merger advantage and what other initiatives do they have on the go? Why is customer engagement important to them and when can we expect a super-app? What is the "Jazz World" and "Tamasha" app? Why are they interested in local content development? How did they end up raising Pakistan’s largest series A with $37m raise? How is Jazz adding value to this? Will they maximize the potential of digital? Can we expect friction costs to reduce? How can this reduce corruption? How are they enabling trade? Why retail? Why is their partnership valuable? Who provides the inventory? Eventually, can Dastgyr become the main source of supply? Was it risky to announce it during this time? What is the next step? Why has 5G not been introduced in Pakistan yet? How can the internet situation in Pakistan be improved? Luxury Vs. Necessity and Spectrum. Why did they partner with Nayatel and why is our internet so unstable? How does Aamir envision the Pakistan of 2050? Catch this and so much more in tonight's episode.

00:00 Tonight’s guests: Aamir Ibrahim and Saif Ali
00:20 Aamir’s Journey!
01:00 Joining Mobilink
01:18 Launching Jazz
01:49 how did his career progress?
02:15 Acquiring WARID
02:32 Was he part of the merger?
02:39 Working with ”Ford Motor Company”
03:21 How has Jazz evolved over time?
05:09 The making of digital Pakistan - Jazz
06:43 The merger advantage
07:14 What other initiatives do they have on the go?
08:44 Why are they focusing on customer engagement?
09:28 When to expect the super-app and what is the “Jazz world”?
10:43 What is the “Tamasha” app?
12:05 Why are they interested in local content development?
12:53 Raising Pakistan’s largest series A with a $37m raise
15:19 How is Jazz adding value to this?
19:57 Will they maximize the potential of digital?
25:01 Can we expect friction costs to reduce?
29:21 How can this reduce corruption?
31:03 How will this partnership assist in FinTech progress?
32:52 Where is Dastgyr currently located?
33:58 How much have they grown?
34:58 How are they enabling trade?
36:46 Why retail?
41:05 Why is their partnership valuable?
45:19 Who provides the inventory?
45:47 Eventually can Dastgyr become the main source of supply?
46:40 Was it risky to announce it during this time?
51:11 What is the next step?
54:22 Why has 5G not been introduced in Pakistan yet?
58:01 How can the internet situation in Pakistan be improved?
59:22 Luxury Vs. Necessity
1:01:46 Spectrum
1:02:43 Why did they partner with Nayatel?
1:03:46 Why is our internet unstable?
1:07:22 Taxation is a killer
1:08:37 How does Aamir envision the Pakistan of 2050?

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Saif Ali is amazing. When startups around the world are struggling to raise funds, Saif Ali's Dastgyr manages to get record funding of $37 million in Series A round.

 

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Fintech Dastgyr raises $37m in Series A round for biggest investment yet at this stage in Pakistan
Mutaher Khan | Published June 14, 2022

Founded in 2020 during the height of Covid-19, Dastgyr is a B2B marketplace app that enables retailers to order wholesale inventory of over 2,000 stock-keeping units with guaranteed next-day delivery. — Photo via Dastgyr Facebook

Dastgyr, a B2B marketplace out of Karachi that connects suppliers to mom-and-pop retailers, on Tuesday announced that it has raised $37 million in Series A funding — the first round of financing for a new business after seed capital — for the biggest investment yet in Pakistan at this stage.

According to a press release, the round was led by VEON Venture — the corporate venture arm of Jazz Pakistan’s parent company — with a contribution of $15m. Other participants in the round were Zinal Growth, DEG, Khwarizmi Ventures, OTF Jasoor Ventures, Cedar Mundi, Reflect Ventures, Century Oak Capital, Hi2 Global, GoingVC, Astir Ventures, K3 Diversity Ventures, and Chandaria Capital, along with the founders of Property Finder, Ayoconnect, Quiqup, and senior management from DoorDash.

The new financing comes less than a year after Dastgyr announced its $3.5m seed round, the press release said.

It claimed that Dastgyr has grown 300 per cent since then, adding over 70,000 retailers across five markets and venturing into new categories such as construction and building materials.

"We’re thrilled to achieve this milestone in the current global economic environment. While we are proud of our growth, we are even prouder of achieving this growth with high capital efficiency. In today’s world, the focus is shifting toward unit economics, burn multiples, and sustainability, but these have been our core focus areas from day one," the press release quoted Dastgyr co-founder Zohaib Ali as saying.

He said that financial inclusion, which is central to the startup’s mission, would uplift and enable Pakistan’s small and medium-sized retail entrepreneurs to potentially unlock up to an additional $10 billion for the GDP.

The press release said that VEON joins Dastgyr at a time when the latter is aiming to expand its Buy Now Pay Later offering and introduce lending products for its sellers as well. It added that Jazz and JazzCash would enable Dastgyr to scale its lending arm across Pakistan.

"As part of VEON's transformation into a digital operator that delivers a growing range of services to our customers, we are investing in leading digital companies like Dastgyr in the countries where we operate. These investments are the building blocks of the digital ecosystem that will enable us to deliver on our strategy.

“Pakistan, with its rapidly growing digital sector, is a key market for VEON. By bringing together Dastgyr’s e-commerce business with Jazz's communications network and JazzCash's mobile payments platform, we will catalyse the growth in digital services in Pakistan. This will be further enhanced by the digital banking services that we have ambitions to provide," the press release quoted VEN Ventures CEO Mohd Khairil Abdullah as saying.

It added that Dastgyr aims to launch 15 new markets in Pakistan, along with its first international market, in 2022.

Fintech Dastgyr raises $37m in Series A round for biggest investment yet at this stage in Pakistan

The round was led by VEON Venture — the corporate venture arm of Jazz Pakistan’s parent company — with a contribution of $15m.

www.dawn.com

 

[ghazi52]

Very Impressive.

 

[AZADPAKISTAN2009]

Congrats to the people