Bazaar Technologies has acquired digital payments platform Keenu, a strategic move aimed at accelerating its path to profitability and cementing its position as Pakistan’s leading e-commerce and fintech provider, according to a report by Bloomberg.

Backed by global investors including Tiger Global, Defy Partners, Wavemaker, and Dragoneer, Bazaar has raised $100 million across two funding rounds. The acquisition of Keenu, which serves merchants in over 150 cities and operates mobile wallets and digital payment systems, will bolster Bazaar’s efforts to build an integrated retail and payments ecosystem.

Originally launched to help small retailers manage inventory and orders, Bazaar expanded into direct-to-consumer sales in 2024. With more than half of Pakistan’s population under the age of 30, the company sees fintech as a critical lever for capturing the country’s rapidly growing base of digital users.

Bazaar’s management says the company maintains a strong balance sheet and is not seeking additional funding at this time, focusing instead on scaling its operations nationwide.