RIYADH: Pakistan-based e-commerce startup, Jugnu, raised $22.5 million in a series A round, led by Saudi Arabia’s B2B marketplace, Sary.
Sary has now expanded into Pakistan through its investment in Jugnu. This follows its second expansion this year after Sary’s acquisition of Egypt-based marketplace Mowarrid.
CEO and Co-Founder of Jugna, Sharoon Saleem, said in a statement: “Our new alliance with Sary will be a great boost for Jugnu. Sary will help us accelerate the development of our platform to connect producers and businesses.”
Founded in 2019, Jugnu is an e-commerce startup that supports small business. It will use its newly acquired funds to grow its team, tech, product offerings, and expand geographically.
