The Competition Commission of Pakistan (CCP) has granted approval to Bazaar Technologies (Private) Limited for the acquisition of a 100% shareholding in Wemsol (Private) Limited. The move marks Bazaar’s strategic expansion into Pakistan’s fintech ecosystem, diversifying its portfolio beyond e-commerce and wholesale distribution.
Bazaar Technologies, founded in 2020 by Hamza Jawaid and Saad Jangda, is one of Pakistan’s fastest-growing startups. It operates as a B2B e-commerce marketplace, enabling small retailers and businesses to procure inventory seamlessly. The company has attracted significant investor interest, securing over $100 million in funding from global and regional investors, including Tiger Global, Dragoneer Investment Group, and Indus Valley Capital. With a presence in dozens of cities across Pakistan, Bazaar has revolutionized procurement and inventory management for thousands of small and medium-sized enterprises (SMEs).
The acquisition will be executed either directly by Bazaar Technologies or through its subsidiary, Beta Holding Private Limited (BHPL). The relevant product market for this transaction includes Electronic Money Institution (EMI) services, Point of Sale (POS) terminals, and related financial services, with Pakistan as the geographic scope.
Wemsol, is a key player in Pakistan’s digital payments landscape. The company operates the brand ‘Keenu,’ offering POS solutions, digital wallets, and payment gateway services for merchants. With a network of merchants and businesses relying on its financial technology solutions, Wemsol has been instrumental in advancing cashless transactions in Pakistan. By acquiring Wemsol, Bazaar Technologies is positioning itself to integrate fintech services into its ecosystem, enhancing payment solutions for SMEs.
According to CCP’s review, the merger represents a conglomerate transaction, as there are no direct horizontal or vertical overlaps between the two businesses. Bazaar Technologies’ focus on B2B e-commerce complements Wemsol’s expertise in fintech and payments, reducing concerns regarding market concentration or anti-competitive behavior.
This approval underscores Bazaar Technologies’ ambition to create an end-to-end digital ecosystem for Pakistan’s retailers and businesses, providing seamless procurement, inventory financing, and digital payment solutions. The CCP continues to encourage businesses to seek pre-merger approvals, ensuring market transparency and competition in Pakistan’s evolving digital economy.
