Bazaar acquires Keenu, marking a watershed moment in the country’s tech and financial landscape. The Karachi-based ecommerce powerhouse has officially taken over one of the nation’s leading payments companies, Keenu — a strategic acquisition approved by the State Bank of Pakistan. The goal is to create Pakistan’s first fully integrated commerce and fintech platform.
Founded in 2020 by Saad Jangda and Hamza Jawaid, Bazaar has emerged as a dominant ecommerce force, serving businesses and households across 10+ cities with its vast product catalog and robust supply chain infrastructure. What began as a B2B platform for kiryana (grocery) stores has quickly grown into a consumer-facing ecommerce venture as well — currently available in Karachi.
On the other side of the acquisition, Keenu brings a decade of fintech experience to the table. With operations in 150+ cities and over $1 billion in annual transaction volume, Keenu is a licensed Electronic Money Institution (EMI) under the State Bank of Pakistan. Its portfolio includes point-of-sale terminals, mobile wallet apps, and payment gateways — making it the perfect payments engine to power Bazaar’s growing commerce network.
What makes this move more than just a corporate merger is the global inspiration behind it. This strategy mirrors international success stories like Alibaba’s Alipay, Flipkart’s PhonePe, and Mercado Pago in Latin America — companies that built their own fintech arms to drive scale, trust, and financial inclusion.
Saad Jangda, co-founder of Bazaar, described it best: “This is more than an acquisition — it’s a strategic alignment that redefines what it means to serve households and businesses in Pakistan.”
By integrating Keenu’s infrastructure, Bazaar is not only aiming for seamless digital payments but also charging toward profitability — a milestone it expects to reach within the next few quarters, according to Bloomberg.
This move also supports Pakistan’s national ambitions. It aligns with the State Bank’s National Payment Strategy and Vision 2028, both of which emphasize innovation, inclusion, and opening the financial ecosystem to non-banking players.
Interestingly, both companies will continue operating independently to retain their unique strengths — but will now be strategically aligned under a unified mission. Bazaar, with additional fintech capabilities, will amplify the reach of its flagship products like Easy Khata, a digital ledger for small businesses, while Keenu expands its already massive merchant network.
As Saad Niazi, CEO of Keenu, aptly stated, “By joining forces with Bazaar, we’re accelerating the movement toward a cashless, digital and connected Pakistan.”
In a market often plagued by fragmented infrastructure and cash dependency, this integration offers something rare: scale, trust, and a clear path to digitizing the backbone of Pakistan’s commerce economy.
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