Zaraye: Pakistan’s Business-to-Business Supplies Platform
According to the Zaraye’s founders, obtaining raw materials is a big pain point for Pakistani producers, who must make repeated phone calls to suppliers while waiting for prices. The company, which runs a platform that links manufacturers with suppliers directly, said today that Tiger Global and Zayn Capital had invested $2.1 million in pre-seed capital. Taha Iqbal Teli, Hashair Junair Ahmedani, and Ahsan Ali Khan, who went to school together, launched the company in late 2021. In addition to raw materials, Zaraye provides working capital to manufacturing companies.
Cotton yarn is one of the materials on the platform, according to CEO Khan. And it is the single most significant raw material used to make end-use fabric in the textile sector. Zaraye manufactures cement, sand, gravel, and crushed stone for construction projects. Smaller manufacturers with annualized revenue ranging from $250,000 to USD 2 million are the focus of this company.
Benefits of Using this Platform
Manufacturers typically engage with middlemen or directly with suppliers and wait for them to provide quotes. Zaraye, on the other hand, allows producers more control over their requirements by letting them submit them and wait for quotes from suppliers. It means that providers can view consolidated demand from Zaraye’s buyer network. According to data compiled by Zaraye from the Pakistan Credit Rating Agency, Pakistan’s industrial manufacturing sector contributes 20% of the country’s GDP. And $35 billion in raw materials annually. With raw materials accounting for 60% to 65% of total costs for manufacturers dealing with low net margins. Also read: Photos of the Upcoming Motorola Edge 30 and Moto G 5G (2022) Got Leaked
