ShopUp, a Bangladesh-based full-stack B2B commerce platform for small businesses has raised $22.5 million in Series A funding round.
The round was co-led by Sequoia Capital India and Flourish Ventures, along with VEON Ventures, Speedinvest, and Lonsdale Capital.
Founded in 2017 by Afeef Zaman, Ataur Rahim Chowdhury, Navaneetha Krishnan J, Siffat Sarwar and Sujayath Ali, ShopUp offers small businesses easy access to B2B sourcing, last-mile logistics, digital credit, and business management solutions.
“This fresh round of funding will support us in increasing our retail reach, deepening our partnerships with manufacturers, and focusing on building tech-first infrastructure,” said Afeef Zaman, CEO of ShopUp.
Recently, ShopUp opened an office in Bengaluru. E-commerce platform Voonik recently merged with ShopUp, with both the founders of Voonik joining ShopUp as co-founders.
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