The country’s largest business-to-business (B2B) e-commerce platform, ShopUp, has raised more than Tk 580 crore ($65 million) in its latest round of fundraising as it looks to expand its operations by bringing small neighborhood grocers and small online retail stores.
In the latest round, called the Series B4 round of funding, ShopUp raised $65 million from Valar Ventures and Flourish Ventures, according to regulatory filings reported by DealStreetAsia. DealStreetAsia based its findings on documents from ACRA. It should be mentioned that ACRA filings only reflect equity financing received so far in a round, and the total round may be larger or have other components such as debt.
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ShopUp previously raised $75 million in Series B, which was led by Peter Thiel’s Valar Ventures. It includes investments from Prosus – the investment arm of Naspers, Pierre Omidyar’s family office, as well as previous investors – Sequoia Capital India, VEON Ventures and Flourish Ventures.
The startup also recently soft-launched its brand new headquarters at the capital’s SKS Tower in Mohakhali. ShopUp’s new headquarters has a whopping 60,000 square feet of space.