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Jugnu enters into strategic alliance with MENA based mostly B2B e-commerce chief Sary, raises $22.5mn in sequence A



Pakistan’s B2B e-commerce startup Jugnu and MENA-based Sary have fashioned an alliance to remodel the way forward for B2B e-commerce by means of an preliminary strategic funding of $22.5 million, accelerating Jugnu’s development and enlargement. 

This strategic funding in Jugnu’s Sequence A spherical , led by Sary with participation from Sarmayacar and Programs Restricted, will allow Jugnu  to speed up the event of its B2B eCommerce ecosystem in Pakistan and strengthen the retail provide chain, lighting up the livelihoods of 1 million+ small and medium enterprises that represent a large chunk of Pakistan’s economic system.

“Jugnu has targeted on growing sturdy capabilities and moats in key markets over the last 18 months, leveraging our product-market match to develop quickly throughout this era. This spherical of funding will allow us to develop our crew, ramp up our technological platform, develop product choices and lengthen our geographical footprint.” stated Sharoon Saleem, Co-founder and CEO of Jugnu.

Pakistan has over  a million Kiryana shops that lack entry to handy stock procurement.  Over two-thirds of the retail shops are by no means serviced straight by any organized distribution channel. 

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Jugnu was based in 2019 with the singular objective of serving to small and medium-sized enterprise (SME)  house owners notice their full incomes potential by making enterprise straightforward for them. With fixed innovation, Jugnu has been capable of speed up its development, straight masking an efficient buyer base of over 30,000 Kiryanas throughout Lahore, Rawalpindi, Islamabad, with enlargement to different main cities underway. Jugnu has differentiated itself by specializing in changing into the one-stop store for Kiryanas with a variety of product assortment by means of its app, connecting producers straight with Kiryanas. The startup  has additionally  prolonged its product providing to incorporate BNPL to Kiryanas. The providing has met with success and can quickly be expanded even additional.

Commenting on the funding, Mohammed AlDossary, Co-Founder and CEO of Sary stated: “In a comparatively brief time frame, Jugnu is quickly positioning itself because the platform of alternative for kiryanas throughout Pakistan’s cities, demonstrating sturdy traction amongst its clients. As they proceed to comprehend the market alternative Pakistan brings, I sit up for working intently with Jugnu’s management to unlock the chances of native commerce, bridging effectivity gaps in MENAP and past”

Based in 2018, Sary has efficiently consolidated its market main place, rising quickly in Saudi Arabia in 2021. Following its acquisition of Egyptian B2B meals and grocery market, Morrawid in March, the startup is poised to grow to be the gateway to allow frictionless commerce between producers and companies within the Center East, North Africa, and Pakistan (MENAP).

The strategic funding and alliance with Sary paves approach for consolidation within the B2B area in MENAP , offering each corporations with the flexibility to leverage various experience and expertise transfers throughout the area.

Talking in regards to the alliance with Sary, Jugnu’s Co-Founder and CEO Sharoon Saleem added: “Our new alliance with Sary shall be an amazing enhance for Jugnu. We’ve established a foothold in our present working cities with a quickly rising buyer base, and Sary will assist us speed up the event of our platform to attach producers and companies, thereby making certain SMEs in Pakistan have entry to the most effective, most competitively priced items at a single faucet. Each Sary and Jugnu stand to realize from a MENAP-wide data and expertise community, by which worker exchanges will carry our groups nearer collectively, leverage complementary experience, and construct an interdisciplinary ability set wanted to create a frictionless B2B eCommerce gateway throughout the area.”

About Sary

Based in 2018, Sary is a MENAP-based B2B eCommerce platform that connects small companies with wholesalers and types by means of a handy, easy-to- use app, enabling a seamless, insightful and daring approach of doing companies. With a quickly rising ecosystem within the GCC, Egypt, and Pakistan, Sary is connecting the synergies of the MENAP area to create the B2B eCommerce gateway to allow frictionless commerce between producers and companies in MENAP and past.

About Jugnu 

Jugnu was based in 2019 by co-founders Sharoon Saleem, Yasir Memon, Syed Khurram Haider, and Ahsan Muhammad Khan. Jugnu drives social and financial empowerment for small companies throughout Pakistan, by making a B2B platform to channel provides from massive suppliers/producers to small and medium enterprises. In less complicated phrases: Jugnu goals to uplift the native economic system by lighting up livelihoods of Kiryanas by means of innovation and technological disruption within the retail ecosystem. Jugnu is accelerating its development, and at the moment has operations throughout Lahore, Islamabad and Rawalpindi with plans to develop into all main cities throughout Pakistan.

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Navigating the Indolj “Safety Breach”: Separating truth from fiction



In at present’s digital period, the very thought of a safety breach could cause extreme consternation. So one can think about the priority when on September 20, there have been information studies of an information breach at Indolj, a Pakistani restaurant expertise supplier. Particularly, native media retailers reported {that a} pattern database of consumers who use Indolj had been compromised – and extra worryingly, that this database contained the shoppers’ private and fee info of consumers. What really occurred? Revenue finds out.

The incident at Indolj

Indolj is a commission-free on-line ordering system and meals ordering app that helps eating places cater to their clients’ meals orders. It additionally supplies all-in-one expertise options for eating places, together with web sites with on-line ordering, POS, digital menu boards and digital advertising and marketing.

On September 20, Revenue acquired a pattern database that was allegedly promoting knowledge of roughly 2.2 million Indolj clients. This similar database was acquired by different media retailers, equivalent to GEO Information, which reported on the subject on September 20, and ProPakistani, which reported on it two days later. The database included the names of consumers, their e-mail addresses, their telephone numbers, together with different info. 

Revenue carried out an evaluation to confirm the authenticity of the knowledge leaked. This was completed by contacting a pool of round 30 clients whose particulars have been talked about. We have been in a position to affirm the names and numbers of those clients; nevertheless, roughly solely 15 e-mail addresses matched those within the database. 

Whereas it had been initially claimed that clients’ bank card info had additionally been breached, there was no proof of this within the database. Moreover, the bodily addresses of consumers have been additionally not current within the pattern knowledge, which implies that there is no such thing as a affirmation of that individual knowledge being leaked. 

Revenue spoke to each Indolj’s CEO Saad Jandga, and Wah Manufacturers CEO Athar Chawla, who has intently labored with Indolj and used their companies for his manufacturers. Each people confirmed that particulars just like the names and telephone numbers of any buyer registered are frequent and often obtainable. Each additionally stated that anybody with a cellular quantity receives quite a few promotional and advertising and marketing calls every day, so this isn’t one thing that folks ought to panic about. 

Breaching into the methods and leaking delicate buyer knowledge is uncommon, nevertheless, “such unethical practices are sometimes carried out by rivals, when a platform is rising,” Chawla stated.

He added the report’s use of fabricated knowledge equivalent to some e-mail addresses and telephone numbers doesn’t present any proof of Indolj’s delicate knowledge being compromised.

Jangda reiterated the platform doesn’t require clients to supply delicate knowledge. He additionally stated the workforce acquired the database across the similar time as everybody else did and took speedy motion. They carried out an evaluation to confirm the info themselves, in addition to with their purchasers, which confirmed that solely a small fraction (roughly 5%) matched the info on the safe back-end database.

“This inconsistency raises severe doubts in regards to the authenticity of the reported knowledge breach,” Saad advised this newspaper.

What about clients’ bank card info?

Indolj is a service supplier that doesn’t require any buyer to avoid wasting their bank card info. Nevertheless, the eating places that use the platform’s companies and supply a web based fee choice to their clients use a fee gateway. These are supplied both by Foree, Financial institution Alfalah or HBL. Jangda stated Indolj doesn’t retailer any knowledge as funds are made by way of the gateway portal alone. This was confirmed by safety skilled Rafay Baloch, who stated Indolj will not be Fee Card Business Information Safety Normal (PCI DSS) compliant. Solely PCI compliant corporations can retailer knowledge. 

“Indolj customers enter their bank card info each time except the portal asks them to avoid wasting the knowledge. Even in that case, the knowledge will not be with Indolj,” Saad said.

“The report features a bank card column, however Indolj by no means shops fee info, making any declare of bank card knowledge leakage unattainable,” Chawla stated, additional stating that an OTP is requested from customers each time a web based fee is made on their eating places.

On this case, bank card numbers weren’t included within the database. Even when they’d been included, a person must additionally know a buyer’s pin, together with the bank card data to make a transaction. The possibility of fraud will increase when each the bank card quantity and pin can be found.

What does it imply to be PCI Compliant? 

It implies that your methods are safe, lowering the probabilities of knowledge breaches. Retailers and fee service suppliers (PSPs) dealing with card knowledge should preserve PCI compliance. It encompasses technical and operational requirements that companies should adhere to to guard cardholders’ bank card knowledge throughout processing. Being PCI compliant, a service provider must bear rigorous safety measures and audits to make sure knowledge safety.

How severe is that this safety breach? 

Our evaluation exhibits that breach will not be so severe as no delicate knowledge has been leaked. It’s because retailers who should not PCI compliant don’t retailer delicate info. 

What’s being completed? 

Indolj has stated that it has strong safety measures and is constantly updating its safety protocols to keep away from such threats sooner or later. Moreover, the service supplier is pursuing authorized motion by way of FIA Cyber Crime to carry these chargeable for this incident accountable. They’ve additionally engaged licensed safety consultants to research this additional.

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Pakistan’s on-line jobs advertiser Rozee launches freelancing platform Azadee



Pakistan’s on-line jobs platform right now introduced the launch of an indigenous feelancing platform for Pakistani professionals, known as Azadee. 

Rozee constructed this platform on the again of what they are saying are a ten million expert professionals and freelancers on the Rozee platform, with 100,000 employers in Pakistan. The launch comes throughout a troublesome time for the financial system as inflation peaks, companies are both closing or laying folks off, whereas increments are in brief provide. 

“Native freelancing is sort of non existent although Pakistan is the fifth largest nation when it comes to worldwide freelancers,” says Rahman. “Since most of the freelancers are already there with us on Rozee and different professionals are additionally very expert, we’re permitting our employers to submit tasks as an illustration for an android app or for making a brand.”

In response to Rozee, its jobs knowledge exhibits a 30% decline in hiring over the past 16 months. As circumstances for companies get powerful, Azadee will allow these companies to fee tasks to expert professionals as a substitute of hiring staff full time, offering earnings stream to such skilled and serving to firms discover staff.

Monis says that brief time period employment is already taking place and it makes extra sense within the present financial circumstances, subsequently, it doesn’t cannibalize the prevailing hiring function of Rozee. “In reality, the businesses could be blissful as a result of they already rent both full time or on a contracutal employment foundation. As a substitute of hiring a full time worker for getting an android app made, they will now freelance it to a talented employee.”

“The fintech platform reshapes Pakistan’s freelance panorama by providing nearly infinite alternatives for freelancers and companies alike. As a substitute of conventional full-time hires that incur substantial prices, this platform permits employers to complement their workforce and proceed to develop on lean budgets,” Shahid Kazi, CEO of Rozee mentioned.

Apart from being a platform connecting professionals with firms for freelancing tasks, Rozee will guarantee funds are made when tasks conclude, and executing formal agreements between events.

The Azadee launch comes on the facet of the launch of Rozee’s monetary wellness platform Rizq, which Rahman dubs as a superapp for freelancers and professionals. Via the Rizq app, professionals and freelancers can save, make investments and handle cash.

A number of the options of the Rizq app would enable professionals and freelancers to spend money on mutual funds, be part of ROSCAs (extra generally often known as committees) and entry loans via Rozee’s companion monetary establishments. The Rizq app would additionally enable them to seek out facet hustles via the Azadee platform.  

“We consider Azadee generally is a shot within the arm to spice up a slowing financial system constrained by cashflows,” mentioned Monis Rahman. “We consider vital financial exercise could be generated by re-introducing our proficient professionals and employers to one another via freelancing relationships. Many of those newly minted freelancers will turn into entrepreneurs and entice worldwide tasks and far wanted overseas alternate.”

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Bykea managed to dodge a bullet, however will everybody else be as fortunate?



Early on Tuesday final week, one of many main lights of Pakistan’s startup ecosystem grew to become the centre of an embarrassing however seemingly innocent hacking incident. At 12:01 PM within the afternoon a number of Bykea customers obtained a pop-up notification from the applying. 

Hackers had breached a 3rd occasion software and despatched two obscene and abusive messages to customers as a nationwide app notification. The incident ignited a firestorm of jokes and mockery on social media, with rival firms becoming a member of in on the enjoyable. Bykea rapidly bounced again from the assault by the top of the day, and affirmed that no private information was leaked.

However this was not a joke. It was a not so nice journey down reminiscence lane for each customers and tech firms alike. Nevertheless, the incident did present that Bykea had realized from the errors of these earlier than them, by solely having an ancillary a part of their enterprise affected. Had they saved delicate person information on their app’s area and had that been compromised, the incident would’ve been much more critical. However what about different firms? Have they realized their classes too? And can they be as fortunate when hackers strike once more? 

Let’s begin with what occurred at Bykea final Tuesday.


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