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Aditya Hadi Pratama · · 1 min readPeter Thiel’s VC fund, Sequoia join $75m round of Bangladesh B2B commerce firm
ShopUp, a business-to-business (B2B) commerce platform based in Bangladesh, announced that it has raised US$75 million in its latest funding round.
More funding details
- Lead investor: Valar Ventures, a venture capital fund established by billionaire investor Peter Thiel
- Existing investor: Flourish Ventures, Sequoia Capital India, and Veon Ventures
- Other investors: Prosus Ventures
- Stage: Series B
More company updates
- This round pushes ShopUp’s total amount raised from investors to US$110 million so far.
- The company says that the investment is the largest series B funding for a B2B commerce startup in South Asia. This also means that it’s the best-funded startup in Bangladesh.
- In February 2020, ShopUp opened up its logistics service RedX to online sellers. Four months later, it has became the largest third-party provider of last-mile logistics services in the country, according to the company’s statement.
- Over the past 12 months, ShopUp recorded more than 13x growth in revenue and 11x growth in the number of total shipments.
For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.
Editing by Collin Furtado and Eileen C. Ang
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