Controversial e-commerce platform Evaly has stated that it is now searching for foreign investment, in the aftermath of industrial conglomerate Jamuna Group deciding not to carry through with the Tk 1,000 crore investment plan to the company.
On September 6, Jamuna Group’s Director of Marketing, Sales and Operation, Mohammad Alamgir Alam disclosed the decision via a social media post.
Evaly CEO Mohamamd Rassel, on July 28, made an announcement that Jamuna Group was going to invest Tk 1,000 crore in the e-commerce platform. It came at a time when different government agencies were investigating the platform’s reported embezzlement of Tk 338 crore it had taken in advance from the consumers and owed to merchants.
After that, in a response to a show-cause notice by the commerce ministry, the e-commerce platform stated that its liabilities to customers amounted to Tk 311 crore, in addition to owing the merchants Tk 206 crore.