Daraz is an online marketplace and logistics company which operates in markets of South Asia and Southeast Asia. As one of the premier online marketplaces in the country, Daraz have recently added on to their portfolio by signing a strategic partnership agreement with HBL to promote the growth of Small and Medium Enterprises.
This partnership between Daraz and HBL aims to strengthen SMEs by inviting these SMEs to set up online shops on Daraz while also avail HBL’s extensive banking solutions to meet their financial needs. As one of the country’s reputed bank, HBL has one of the leading SME segments at offer. When this is paired with Daraz’s prominent e–commerce platform, this partnership will aim to grow and sustain these enterprises. According to the details of these partnerships, HBL will enable these SME clients to set up their online ventures on Daraz by helping them set up their businesses and financial support through this platform.
This program is funded under the newly launched Daraz Humqadam program. According to the details mentioned by Daraz, the Humqadam program offers commission fees waivers for May and June, educational and training on Daraz University for free, express sign-ups and free marketing to promote SME businesses and setting up the online shops of these enterprises. Ehsan Saya, Managing Director at Daraz Pakistan was noted to have said that: “HBL and Daraz have a rich history together and have enabled thousands of Pakistanis to participate in Digital Payments. As a continuation of our partnership with HBL, we aim to offer the same level of service to our rapidly growing seller base. At Daraz, we take full ownership of fueling Pakistan’s economy during this difficult economic period and there is no sector that fuels growth like the SME sector. We are very proud to have joined hands with HBL to work towards this goal”.
Daraz’s multi million monthly active users and wide reach nationwide can serve to give these SMEs the platform they need to ensure their growth and sustainability on an online retail platform. Moreover, HBL’s distribution network can provide extensive financing solutions and investment in technology. Hence, this partnership will allow these SMEs to reach millions of customers nationwide. Aamir Kureshi, Head Consumer for Rural and SME Banking at HBL, spoke on this partnership by highlighting: “SME is a key pillar of growth for the economy as well as for providing gainful employment opportunities to the wider population of the country. Our expanded partnership with Daraz to support SMEs is in line with our commitment to this key economic sector. HBL continues to focus on technology based solutions for financial inclusion. We look forward to working with Daraz on a sustained basis to play our part in the economic development of Pakistan.”