Local e-commerce site gets over Tk 10cr from Japanese firm

Local e-commerce marketplace ajkerdeal.com has received Tk 10 crore in investment from Japanese firm Innotech Corporation to speed up its service delivery.

Fahim Mashroor, co-founder and chief executive officer of the online marketplace, disclosed the information at a press conference at Sonargaon hotel in Dhaka yesterday.

“I can assure that the investment size is the highest-ever in the country's e-commerce sector,” said Mashroor, without giving the number of shares the Japanese company would hold in return of the investment.

The investment has been channelled through Fenox Venture Capital Company. Officials of ajkerdeal.com said the investment would be used to make the service delivery faster.

“We have some leakage in products delivery and we want to make the process faster. At the same time we want to develop our site and include more products in the site,” said Mashroor.

After the press conference, Toshihiko Ono, president of Innotech Corporation, told The Daily Star that Bangladesh is an emerging market for e-commerce and other digital services.

“So, we have come here to invest. If we find good return from the investment we will consider a few more initiatives as well,” said Ono.

Shameem Ahsan, global general partner of Fenox Venture Capital, said riding on Fenox's extensive worldwide network, ajkerdeal.com would establish itself in the global arena and expand its presence outside Bangladesh.

Launched in 2011, ajkerdeal.com has now 2,000 merchants selling their products and services through the platform. It has 10 lakh users.

At present, there are three lakh products on ajkerdeal.com which receives 1,500 to 2,000 orders a day.

Abul Nuruzzaman, partner of Fenox Venture Capital, was also present.