One of Bangladesh’s biggest business-to-business (B2B) marketing platforms which aid small neighbourhood shops and online sellers, ShopUp, is going to receive a fresh round of venture capital funding in excess of $75 million or Tk 640 crore in the latest round of fundraising.
The term B financing round was led by Peter Thiel’s Valar Ventures. In addition to that, investments from Prosus, existing investors Sequoia Capital India, VEON Ventures, and Flourish Ventures are also there.
Previously, in October 2020, the domestic retail tech startup raised $22.5 million of Series-A funding from a group of investors co-led by Sequoia Capital India and Flourish Ventures, which is still the biggest ever Series-A fundraising by any domestic startup.
In 2018, the startup received a seed funding of $1.62 million from Omidyar Network, which is an impact investment firm founded by eBay founder Pierre Omidyar.
This brings the total funding to $110 million, making it the highest-funded start-up in Bangladesh.