Qist Bazaar
Qist Bazaar is a Karachi-based, SECP-licensed Shariah-compliant BNPL fintech founded in 2021 that enables unbanked and underbanked Pakistani consumers to purchase electronics, appliances, mobile devices, and solar products on 3-18 month installment plans via its app, marketplace, and partner store network.
- Company typePrivate
- Founded2021
- HeadquartersKarachi, Pakistan
- Headcount251–500
- GTM typeB2C
- OfferingServices
What Qist Bazaar does
Qist Bazaar is a Karachi-based Shariah-compliant Buy Now Pay Later (BNPL) fintech founded in 2021 that serves unbanked and underbanked consumers in Pakistan. The company offers 3-18 month installment plans for electronics, appliances, mobile devices, and emerging lifestyle categories (bikes, batteries, solar power generators) through a combination of an e-commerce platform, a mobile app (Android live, iOS forthcoming), a vendor marketplace at marketplace.qistbazaar.pk, and a physical partner store network. Its core product uses Musawamah cost-plus financing structures and holds Shariah-Compliant Company status and a Non-Banking Finance Company (NBFC) license from the SECP, making it the first SECP-licensed Shariah-compliant BNPL operator in Pakistan.
The platform integrates with Easypaisa and JazzCash for repayments, and is anchored by a strategic equity and embedded finance partnership with Bank Alfalah (PKR 500M deal in 2023, with follow-on capital in 2025), alongside Series A participation from Indus Valley Capital and Gobi Partners. Merchant partnerships with Samsung Pakistan and Infinix extend distribution into branded consumer electronics, while a co-marketing arrangement with Pak-Qatar Family Takaful broadens the financial services footprint. The company reports approximately $12 million in installment loans disbursed over three years.
Qist Bazaar's business model combines installment lending economics (markup on Musawamah cost-plus contracts, late fees) with e-commerce marketplace commissions on transactions routed through its vendor marketplace. Revenue is therefore a function of loan book size, average ticket, duration of installment plans, and merchant take-rates. End customers are fragmented mass-market Pakistani consumers, while the Bank Alfalah relationship is the single most important institutional dependency on both the credit supply and distribution sides.
Qist Bazaar firmographics
Firmographics- Name
- Qist Bazaar
- Legal name
- Qist Bazaar Private Limited
- Website
- https://qistbazaar.pk
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Qist Bazaar is a Karachi-based, SECP-licensed Shariah-compliant BNPL fintech founded in 2021 that enables unbanked and underbanked Pakistani consumers to purchase electronics, appliances, mobile devices, and solar products on 3-18 month installment plans via its app, marketplace, and partner store network.
- Ownership category
- akta.pro rank
Qist Bazaar industry classification
Industry- Product category
- Consumer Installment Financing (BNPL)
- NAICS
- Sales Financing (52222)
- SIC
- Personal Credit Institutions (6141), Retail-Computer & Computer Software Stores (5734)
- akta.pro primary industry
- Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA)
- akta.pro secondary industries
- In-Store / In-Person BNPL (POS) (FSAKACAB), Merchant-Integrated BNPL (Online Checkout) (FSAKACAA)
Keywords
Where Qist Bazaar is headquartered
LocationHeadquarters
- HQ city
- Karachi
- HQ country
- Pakistan
- HQ region
- Asia
Offices1 record
Markets served
Qist Bazaar business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Supply Chain, Others
Revenue model
- Installment-based lending: Qist Bazaar generates revenue through installment-based loans for consumer electronics and appliances. Customers pay an advance payment followed by monthly installments over 3-18 months. The company earns through the spread between the product price and the total installment amount collected.
- E-commerce marketplace commissions: Qist Bazaar operates an e-commerce marketplace connecting consumers with electronics retailers and brands, earning commissions on sales facilitated through the platform.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Consumer electronics installment plans with advance payment + monthly installments |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Qist Bazaar product offering
Product offeringCore offering
Qist Bazaar is a Shariah-compliant Buy Now Pay Later (BNPL) fintech platform that enables unbanked and underbanked Pakistani consumers to purchase consumer electronics, home appliances, bikes, and solar products on monthly installments without requiring a bank account or credit card. The company operates an SECP-licensed non-bank finance company framework, processes payments through Easypaisa and Jazzcash mobile wallets, and runs both a consumer-facing e-commerce marketplace and a separate B2B vendor marketplace at marketplace.qistbazaar.pk.
Product overview
Qist Bazaar is a Pakistan-based BNPL (Buy Now Pay Later) fintech startup that operates as both an e-commerce marketplace and a financial services platform. The core offering is the BNPL platform that enables unbanked and underbanked customers to purchase electronics and appliances on easy monthly installments without requiring a bank account or credit card. The platform includes a mobile app (available on Google Play Store), an online marketplace featuring products across categories including mobiles, laptops, home appliances, bikes, and solar equipment, a vendor marketplace for third-party sellers, and a network of physical retail partner stores. The company has disbursed over $12 million in loans over three years and partners with Bank Alfalah for equity and embedded finance services.
Differentiator
Problem solved
Functional benefit
Products and services
- Shariah-Compliant BNPL Installment Financing Platform Shariah-compliant Buy Now Pay Later (BNPL) financing service that enables unbanked and underbanked Pakistani consumers to purchase consumer electronics, home appliances, bikes, and solar products on monthly installments of 3 to 18 months. Operates under an SECP-licensed Non-Banking Finance Company (NBFC) framework, requires no bank account or credit card, and processes payments through Easypaisa and Jazzcash mobile wallets. Available across Pakistan through online and physical dealer store channels.
- Qist Bazaar E-commerce Marketplace Online marketplace where Pakistani consumers can browse and purchase consumer electronics, home appliances, bikes, and solar products on Shariah-compliant monthly installment plans. Features products from brands such as Samsung, Infinix, Gree, Haier, and other manufacturers, with free delivery, product warranty, and bundled accidental life Takaful coverage.
- Qist Bazaar Vendor Marketplace A separate vendor platform hosted at marketplace.qistbazaar.pk that enables third-party sellers, retailers, and brands to list and sell their products through the Qist Bazaar BNPL installment system. The Vendor Marketplace allows sellers to extend their reach to unbanked Pakistani consumers who cannot transact through traditional credit channels, while leveraging Qist Bazaar's Shariah-compliant financing infrastructure.
Quantifiable outcome
- Over $12 million in loans disbursed within three years
- +1 more outcomes
Companies that use Qist Bazaar
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles2 records
Qist Bazaar technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature1 record
Qist Bazaar partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- InfinixcoreInfinix partnered with Qist Bazaar through a nationwide launch event at the Karachi Expo Center. The collaboration links Infinix's smart technology products with Qist Bazaar's BNPL platform to enhance consumer access to connected devices.
- EasypaisacoreQist Bazaar integrates with Easypaisa mobile wallet allowing customers to pay their monthly installments through the Easypaisa app in 5 simple steps.
- JazzcashcoreQist Bazaar integrates with Jazzcash mobile wallet allowing customers to pay their monthly installments through the Jazzcash app in 5 simple steps.
- Samsung PakistancoreSamsung Pakistan partnered with Qist Bazaar to offer Samsung smartphones starting at Rs. 4,999 with easy installments. Customers can get Samsung A04 mobile phones with minimum formalities through Qist Bazaar's platform.
- Pak-Qatar Family TakafulminorQist Bazaar signed an MoU with Pak-Qatar Family Takaful Limited (PQFTL) to provide free accidental life takaful coverage to customers, adding value-added features to the installment plans.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Qist Bazaar competitors and assessment
Company assessmentDirect peers
- Easybuy: Pakistan-based BNPL platform offering consumer electronics on installment plans through a network of partner stores. Direct competitor to Qist Bazaar in the same unbanked/underbanked segment, same product categories, and same hybrid online+offline GTM.
Regional players
- Tabby: MENA-focused BNPL platform that pioneered Shariah-compliant installment plans across the Gulf. Comparable on product (BNPL for retail), regulatory innovation (Shariah compliance), and target segment (underbanked), though operating in MENA rather than Pakistan.
- Tamara: Saudi Arabia-headquartered BNPL platform offering Shariah-compliant installment payments across MENA. Comparable to Qist Bazaar on Shariah-compliant BNPL mechanics and merchant-integrated checkout, but serves a different geography.
- Atome: Pan-Asian BNPL platform operating across Southeast Asia including markets with large Muslim populations (Indonesia, Malaysia). Comparable BNPL merchant-integrated model and emerging-market consumer credit focus, though geographic focus is SE Asia rather than Pakistan.
- PostPe: India-based BNPL platform from the BharatPe group offering pay-later checkout for electronics and lifestyle purchases. Comparable BNPL-for-electronics playbook and emerging-market underbanked focus, but operating in India rather than Pakistan.
- Cashee: UAE-based BNPL fintech focused on Gen Z and underbanked consumers in MENA. Comparable Shariah-compliance capabilities and target segment (young, financially excluded), though smaller scale and geographically separate.
Emerging players
- Akulaku: Indonesia-headquartered BNPL and virtual credit platform targeting unbanked consumers in Southeast Asia. Comparable to Qist Bazaar in serving underbanked borrowers in an emerging market, with similar mobile-app-led installment experience.
Broad incumbents
- Bank Alfalah Consumer Finance: Bank Alfalah is one of Pakistan's largest commercial banks and is already a 7.2% shareholder in Qist Bazaar. Its broader consumer lending and installment products are both an enabler (embedded finance) and a competitive threat (could launch competing BNPL), making it a relevant broad incumbent comparable.
- Daraz (Alibaba Group): Pakistan's largest e-commerce marketplace, owned by Alibaba. Comparable as a marketplace-plus-financing destination for consumer electronics and appliances in Pakistan, and a potential distribution channel or competitor to Qist Bazaar's online platform.
Others
- JazzCash / Easypaisa: Pakistan's dominant mobile wallets operated by Jazz (VEON) and Telenor respectively. They are Qist Bazaar's collection rails today but also have the customer data and reach to launch competing BNPL products, making them both infrastructure providers and potential competitive threats.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Qist Bazaar social profiles
Digital presenceQist Bazaar compliance and trust
Trust signalCompliance2 records
Qist Bazaar financial estimates
Financial estimateRevenue estimate
Valuation estimate
Qist Bazaar leadership team
Management profileNumber of profiles
Qist Bazaar funding detail
Funding detailFunding overview
Funding rounds4 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Qist Bazaar M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Qist Bazaar
What does Qist Bazaar do?
Qist Bazaar is a Shariah-compliant Buy Now Pay Later (BNPL) fintech platform that enables unbanked and underbanked Pakistani consumers to purchase consumer electronics, home appliances, bikes, and solar products on monthly installments without requiring a bank account or credit card. The company operates an SECP-licensed non-bank finance company framework, processes payments through Easypaisa and Jazzcash mobile wallets, and runs both a consumer-facing e-commerce marketplace and a separate B2B vendor marketplace at marketplace.qistbazaar.pk.
Is Qist Bazaar a public or private company?
Qist Bazaar is a private company. It is classified as venture growth investor backed and is currently operating.
When was Qist Bazaar founded?
Qist Bazaar was founded in 2021. It employs 251 to 500 people.
Where is Qist Bazaar based?
Qist Bazaar is headquartered in Karachi, Pakistan, in the Asia region.
How does Qist Bazaar make money?
Two revenue lines are on record. Installment-based lending is the primary driver. The others are E-commerce marketplace commissions.
Who are Qist Bazaar's main competitors?
Easybuy is listed as a direct peer. Regional players are Tabby, Tamara, Atome, PostPe and Cashee. Akulaku is listed as an emerging player. Broad incumbents are Bank Alfalah Consumer Finance and Daraz (Alibaba Group). JazzCash / Easypaisa is listed as an others.
Does Qist Bazaar have an API?
No public API is recorded for Qist Bazaar.
What industry is Qist Bazaar in?
Qist Bazaar's product category is Consumer Installment Financing (BNPL). Its primary akta.pro industry code is FSAGAIAA, Merchant-Integrated BNPL (Checkout POS Financing), with a secondary code of FSAKACAB, In-Store / In-Person BNPL (POS). Its NAICS code is 52222 and its SIC code is 6141.