ShopUp Raises $22.5 Million To Digitize Millions of Mom-and-Pop Shops in Bangladesh
By Manish Singh
A startup that is aiming to digitize millions of neighborhood stores in Bangladesh just raised the country’s largest Series A financing round.
Dhaka-headquartered ShopUp said on Tuesday it has raised $22.5 million in a round co-led by Sequoia Capital India and Flourish Ventures. For both the venture firms, this is the first time they are backing a Bangladeshi startup. Veon Ventures, Speedinvest and Lonsdale Capital also participated in the four-year-old ShopUp’s Series A financing round. ShopUp has raised about $28 million to date.
Photo courtesy of Wonderlane.