ShopUp and The Rise of B2B Commerce Plus Pathao Pay, Loginex, and Quora+

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Sep 11, 2021

Something special happened for the Bangladesh startup ecosystem last week. ShopUp, the B2B commerce company, has raised a whopping $75 million in a Series B round led by Valar and participated by a list of steller investors. The round is the largest by a Bangladeshi startup and largest by a B2B commerce company in the region. 

ShopUp, from a humble beginning, has built an enviable operation and an excellent execution muscle. It is inspiring to watch. Co-founder and CEO Afeef Zaman credits this capacity of execution to his team in an interview with TechCrunch.

ShopUp is a complex operation — building a platform at the intersection of ecommerce, capital, logistics, and potentially other B2B services in the coming days. The company has three products: B2B wholesale marketplace Mokam, logistics service REDX, and small business working capital financing service Baki. The company describes itself as a full-stack B2B commerce platform for small businesses. 


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Ruhul Kader is a technology and business analyst based in Dhaka, Bangladesh. He is also the co-founder and CEO of Future Startup and author of Rethinking Failure: A short guide to living an entrepreneurial life. He writes about internet business, strategy, technology, technology policy, and society. He can be reached at ruhul@futurestartup.com

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