ShopUp secures Series B4 funding of more than BDT 580 Crore

The country's largest business-to-business (B2B) e-commerce platform, ShopUp, has raised more than Tk 580 crore ($65 Million) in its latest round of fund-raising as it looks to ramp up its operation by bringing small neighbourhood groceries and small retail shops online.

In the latest round, termed the Series B4 financing round, ShopUp raised $65 million from Valar Ventures and Flourish Ventures, according to regulatory filings reported by DealStreetAsia. DealStreetAsia based its findings on ACRA filings. It must be mentioned that ACRA filings only reflect equity funding received so far in a round, and the overall round could be larger or have other components such as debt.

Previously, ShopUp raised $75 Million in series B, which was led by Peter Thiel's Valar Ventures. It included investments from Prosus -- the investment arm of Naspers, Pierre Omidyar's family office, as well as past investors -  Sequoia Capital India, VEON Ventures, and Flourish Ventures.

The startup also recently soft-launched its brand new headquarters at the capital's SKS Tower in Mohakhali. ShopUp's new headquarters has a massive capacity of 60,000 square feet.