Biography of Syed Bilal Hassan: Founder & CEO of Saraaf- Entrepreneur
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Beginning of Saraaf: From Humble Beginnings to Big Ambitions
Saraaf was founded by Syed Bilal Hassan with a vision to
revolutionize the B2B commodity trading landscape. The company specializes in
sourcing essential commodities like onyx and cotton, serving industries across
Pakistan and beyond. The idea for Saraaf emerged after years of experience in
the commodity trade, particularly within the onyx and marble sectors. As the
business grew, the founders realized that there was an untapped opportunity to
streamline sourcing and distribution of raw materials. Their aim was to create
a platform that connected markets in Asia with the abundant resources found in
Central Asia, particularly Afghanistan and Balochistan, offering a competitive
advantage in sourcing and trade.
A Strong Start in the Commodities Industry
Before launching Saraaf, Bilal had already made significant
strides in the onyx and marble business. His early ventures included founding a
company in Spain that specialized in exporting onyx blocks to the European
market. He also helped create a successful supply chain that imported onyx from
Afghanistan to Pakistan and then exported it to China. This experience laid the
groundwork for Saraaf’s operations, enabling the company to quickly scale its
operations in the B2B commodities space. Over the years, the company expanded
its portfolio to include not just onyx, but also other commodities like coal
and cotton, contributing significantly to Pakistan's market.
A Rapid Growth Trajectory: Success in the Market
Since its founding, Saraaf has experienced impressive
growth. The company’s revenues reached over PKR 11 billion by 2023, with a
significant portion coming from the booming cotton and onyx trade. Saraaf’s
unique positioning within the market allowed it to bridge supply chain gaps,
ensuring that clients had access to high-quality raw materials while keeping
prices competitive. Despite the challenges posed by the COVID-19 pandemic,
Saraaf thrived, further cementing its position as a leader in the commodities sector
in Pakistan.
The Big Pitch on Shark Tank Pakistan
In early 2024, Bilal and his team took the stage on Shark
Tank Pakistan, seeking an investment of PKR 1.5 billion for 20% equity, which
valued the company at PKR 7.5 billion. This pitch marked a pivotal moment in
Saraaf's journey, as the founders highlighted the company’s remarkable growth
and market dominance. They aimed to secure capital that would fuel the next
phase of their expansion, particularly to further strengthen their commodity
sourcing operations and scale the business to new heights.
Challenges and Hesitation from the Sharks
Despite Saraaf's impressive financials and strong market
presence, the sharks were initially hesitant to agree to the high valuation.
The substantial equity ask raised concerns for several of the investors, who
were wary of entering into such a high-risk venture. One by one, they chose to
opt out, citing the valuation and equity request as key factors in their
decision-making. However, the founders’ knowledge of the market and their
unwavering confidence in the business’s potential kept them in the game, even
as the other sharks stepped back.
The Game-Changing Offer from Usman Bashir
Just as it seemed like the deal would fall through, Usman
Bashir, one of the more seasoned investors, recognized the potential in
Saraaf’s established network and market position. He made an unprecedented
offer: PKR 80 crore for 20% equity, coupled with a PKR 70 crore line of credit
and a 3% royalty on future revenues. This offer not only matched the valuation
the founders were seeking but also provided the financial backing and support
Saraaf needed to scale even further. It was a historic moment on the show,
marking the largest deal ever made in Shark Tank Pakistan’s history.
Securing the Deal: A New Era for Saraaf
The founders of Saraaf, after careful consideration,
accepted Usman Bashir’s offer. The deal was a game-changer for the company,
providing the necessary capital injection and credit support to fuel its
expansion plans. This partnership was not just a financial victory; it was a
strategic move that positioned Saraaf for long-term success. With the resources
and expertise brought by Usman Bashir, Saraaf was poised to dominate the
commodity trading space, expanding its footprint across Asia and beyond.
Biography of Syed Bilal Hassan: Founder & CEO of Saraaf- Entrepreneur/age/net worth/startup/shark tank pakistan/B2B commodity trading/onyx, cotton, co
Revolutionizing the Sourcing Process
One of the key elements of Saraaf’s success lies in its
innovative approach to sourcing commodities. By leveraging a robust supply
chain and a vast network of local and international partners, Saraaf has been
able to streamline the procurement process, ensuring that clients receive
quality materials at competitive prices. The company’s ability to connect
global markets to Central Asian goods has given it a unique edge, allowing it
to operate efficiently and profitably in a highly competitive industry.
Expanding the Product Portfolio
In addition to onyx and cotton, Saraaf has expanded its
product offerings to include other high-demand commodities, such as coal. This
diversification has allowed the company to tap into multiple markets, catering
to a wide range of industries that rely on raw materials for manufacturing. By
continuously expanding its product portfolio, Saraaf has not only increased its
revenue streams but also strengthened its position in the market as a leading
commodity sourcing company.
A Focus on Sustainability and Ethical Sourcing
As Saraaf continues to grow, the company has remained
committed to sustainable and ethical sourcing practices. The founders
understand the importance of building long-term relationships with suppliers
and ensuring that all commodities are sourced in a way that benefits both the
environment and local communities. Saraaf’s dedication to transparency and
responsible sourcing has made it a trusted partner for clients who value
ethical business practices and environmental sustainability.
The Future of Saraaf: A Vision for Growth
With the new investment and strategic partnership, Saraaf is
now focused on its next phase of growth. The company plans to expand its
operations into new markets, particularly in Asia and the Middle East. By
leveraging technology and data-driven insights, Saraaf aims to optimize its
sourcing processes, reduce costs, and improve the overall customer experience.
The founders are determined to take Saraaf to new heights, cementing its
position as one of the biggest B2B commodity trading platforms in Asia.
Empowering Local Communities and Creating Jobs
In addition to its business success, Saraaf has made a
significant impact on local communities, creating hundreds of jobs in the
process. The company’s operations have contributed to the growth of the local
economy, particularly in Balochistan, where much of the sourcing takes place.
Through its expansion and success, Saraaf has provided job opportunities and
economic stability to individuals and families, empowering local communities
and driving positive change in the region.
Saraaf’s Legacy: A Story of Resilience and Vision
Looking back on its journey, Saraaf’s story is one of
resilience, innovation, and a relentless pursuit of growth. From its modest
beginnings to securing the largest deal in Shark Tank Pakistan history, the
company has proven that with vision, determination, and the right partnerships,
it is possible to disrupt industries and create lasting change. The founders of
Saraaf have not only built a successful business but also set a new standard
for the commodities trade in Pakistan, inspiring other entrepreneurs to think
big and aim high.
Timeline for Saraaf's Journey
Pre-2017: Bilal Hassan gains significant experience in the
onyx and marble trade, founding a company in Spain for exporting onyx and
creating a successful supply chain from Afghanistan to China.
2017-2020: Bilal expands his operations, realizing the
opportunity to streamline sourcing and distribution of raw materials, leading
to the formation of Saraaf.
2021: Saraaf is founded with a focus on B2B commodity
trading, specializing in onyx, cotton, coal, and other essential raw materials.
2023: Saraaf’s revenues reach over PKR 11 billion, with
continued growth despite challenges like the COVID-19 pandemic.
Early 2024: Saraaf pitches on Shark Tank Pakistan, seeking
PKR 1.5 billion for 20% equity, valuing the company at PKR 7.5 billion.
Early 2024: After initial hesitation, Usman Bashir offers
PKR 80 crore for 20% equity, along with a PKR 70 crore line of credit and a 3%
royalty on future revenues.
2024: The deal is accepted, marking the largest deal in
Shark Tank Pakistan’s history, and Saraaf gains new financial and strategic
support.
2024-2025: Saraaf expands its product offerings and
strengthens its market position through technological integration and ethical
sourcing practices.
Future Focus: The company aims for growth across Asia and
the Middle East, leveraging technology to optimize sourcing and drive
sustainable growth.
2025: Saraaf continues to empower local communities,
particularly in Balochistan, by creating jobs and contributing to the local
economy.
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