Qistbazaar achieves Rs 1 billion sales milestone
ISLAMABAD: Qistbazaar – a leading e-commerce start-up, has achieved the milestone of Rs 1 billion in sales, in just 17 months since its establishment in November 2021, stated in a press release issued here on the other day.
As a rapidly growing BNPL (Buy Now Pay Later) platform and working as a licensed NBFC (Non-Banking Finance Company), Qistbazaar is committed to uplifting the living standard of all citizens by making over 400 products easily accessible at affordable monthly instalments, says the press release.
Over 15,000 customers have availed Qistbazaar’s plans during this period, to clock up the Rs 1 billion in sales, with mobile phones, refurbished laptops, refrigerators, LED TVs, motorcycles and ceiling fans being the most popular purchase items. Customers earning less than Rs 45,000 per month constitute 57% of the total customers, with 70% of the customers being below 35 years of age. Micro-business owners like thela walas and others comprise over 40% of the customers, the press release adds.
“We have crossed a milestone not only for sales but for making a positive impact on the lives of others,” stated Arif Lakhani, co-founder of Qistbazaar, adding, “Our focus is to especially support the population who are unbanked and with zero credit score – from a bunkabab wala to an unemployed man buying a motorcycle to become a delivery rider, to a rickshaw driver getting a phone to connect with passengers, or to a gig worker buying a laptop to earn extra income from home, we are enabling people to earn livelihood and grow for themselves.”