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.