LAHORE: Karachi-based beauty and fashion e-commerce platform Bagallery (Private) Limited has closed a $900,000 Pre-Series A funding round from Lakson Venture Capital (“LVC”), the company announced in a statement today. “The plan is to further raise funding next year, hopefully by the mid of 2021,” said Mina Salman from Bagallery. Motivated by the demand, in 2017, the co-founders launched a native e-commerce platform with dedicated operations and fulfilment teams. The fashion industry dominates the global B2C e-commerce space with a 30 per cent share in total B2C e-commerce revenues. Regionally, exit prospects of beauty and fashion e-commerce players have reaped big returns for investors.

Source: Pakistan Today November 05, 2020 17:15 UTC