VEON to invest for e-commerce elevation in country

VEON Ltd, e-commerce based global digital operator that provides mobile connectivity and services has announced about the venture division completion of US 15 million dollars Series A investment in Dastgyr. VEON Ventures’ investment in Dastgyr Series A funding was made alongside Zinal Growth Partners, DEG, Khwarizmi Ventures, Oman Technology Fund, Cedar Mundi Ventures, Reflect Ventures, Century Oak Capital, Haitou Global, GoingVC, Astir Ventures, K3 Ventures, Chandaria Capital, along with the founders of Property Finder, Ayoconnect, Quiqup and senior management from DoorDash. The deal includes the largest investment in  Pakistani start-up which reflects the Group’s continued commitment to the region and growth of the digital economy of Pakistan.  Moreover, the investment positions Dastgyr has taken advantage of VEON’s global expertise and its operating company, Jazz’s distribution network and digital payment solutions via JazzCash .As Pakistan’s start-up ecosystem is at a critical juncture and only startups focused on addressing key challenges and adopting localized solutions will survive and thrive, this investment highlights VEON’s commitment to scaling up Pakistan’s digital economy. This also provides Dastgyr with a platform to build synergies with Jazz’s subscriber base of around 75 million and with JazzCash, further integrating the startup into Pakistan’s fintech ecosystem.
enhanced by the digital banking services that we have ambitions to provide. Dastgyr also offers businesses a one-stop-shop application that connects thousands of retailers with suppliers to give them access to real-time visibility on pricing and financing rates.