Pakistan’s fashion and beauty startup, Bagallery, raised $4.5 Million in a Series A funding round. This round was co-led by Zayn Capital, existing investor Lakson VC, and UAE-based Hayaat Global. This year has been a huge success for Pakistan as the global investment in Pakistani startups has reached $310 million this year, crossing the $300 million level.
Read more: Lahore-based Startup PostEx Raises $8.6 Million in Seed Funding
Bagallery raised $4.5 Million to expand the company
The founder of Bagallery, Mina Salman and Salman Sattar, confirmed that Bagallery raised $4.5 million in a funding round, and the funds will be utilised for acquiring other big fashion brands and expanding their business to several other locations. The company also issued a press release that reads, “Pakistan is a country of 220 million people, and everyone wants to look beautiful. Our purpose is to offer affordable fashion and beauty products to every population segment. Globally, fashion and beauty are the biggest categories for e-commerce, so we are playing in the right vertical, which has already seen many unicorns globally, especially in the last three years.”
The e-commerce fashion and beauty startup is close to establishing itself as a leader in the beauty and fashion industry. The startup additionally launched exciting innovations such as; virtual try-on with L’Oreal ModiFace, live streaming, and social commerce. A statement from the company’s co-founder reads, “It’s been amazing to see the growth of this company over the last few years, and I am excited to be a continued of Mina and Salman’s vision to build the best beauty and fashion platform in Pakistan.”
More information on the fashion and beauty startup
Mina and Salman founded Bagallery in 2017. The startup holds more than 40 per cent female workforce, and it has served more than 2,700,000 visitors per month with more than 500,000 satisfied customers across the country. The startup is focused on revolutionising how people shop for beauty and fashion products online. This e-commerce startup caters to a wide range of products which includes skincare, makeup, fragrance, handbags, watches, and many more.
Bagallery raises $4.5 million to fund its latest endeavours in the coming years, which includes the first-of-a-kind influencer platform, which will allow influencers in the beauty and fashion industry to connect with the website and help further evangelise their products. Bagallery also aims to purchase a few online brands in their operating categories hence helping them grow and expand.
Source: DAWN
