PriyoShop, the fastest-growing retail-tech startup in Bangladesh, has been named among the Top 50 International Startups in the prestigious Startup Wheel 2023 competition, per a press release shared with Future Startup. Organized in Vietnam, the competition witnessed fierce participation of more than 2,000 startups hailing from 34 countries, solidifying its status as one of the largest and most diverse startup events in the region.
PriyoShop, a B2B e-commerce marketplace, has been making remarkable strides in digitalizing B2B trade for the unorganized retail sector in Bangladesh. The company's innovative platform effectively connects small-scale retailers directly with manufacturers and suppliers, revolutionizing the way business is conducted in the retail industry.
The PriyoShop App plays a crucial role in enabling small retailers, especially neighborhood mom-and-pop shops, to procure inventory from wholesalers, distributors, and manufacturers at competitive rates. By targeting the vast network of 5 million retail shops in Bangladesh, accounting for 97% of the country's retail sector, PriyoShop says it has impacted the lives of 32,000 micro-merchants, bolstering their businesses and driving economic growth.
Upon receiving the award, Asikul Alam Khan, founder and CEO of PriyoShop, said, "This award is a testament to the hard work and dedication of our team, who tirelessly strive to revolutionize the MSME sector in Bangladesh. We are committed to driving positive change and empowering micro-merchants across the country."
Startup Wheel 2023 is a testament to PriyoShop's innovative approach and its potential to create meaningful change in a vital sector of Bangladesh's economy. The company says the international recognition garnered through the competition will help propel PriyoShop's reach and impact, further consolidating its position as a catalyst for economic growth and a powerful enabler of micro-merchants in the region.
The company says that it remains steadfast in its commitment to transforming the lives of micro-merchants and shaping the future of retail in Bangladesh and beyond. With its cutting-edge technology and unwavering dedication, PriyoShop is poised to revolutionize the retail landscape, fostering prosperity for small businesses and contributing to the economic growth of Bangladesh.
