- ShopUp, the largest full-stack B2B commerce platform in Bangladesh, announces a major milestone in securing $30 million in debt financing.
- The $30 million financing round was comprised of $20 million from Lendable, the global provider of debt to fintech companies in emerging markets, marking their first investment in South Asia.
DHAKA, BANGLADESH – Media OutReach – 2 February 2023 – ShopUp, the largest full-stack B2B commerce platform in Bangladesh, announces a major milestone in securing $30 million in debt financing. The funds will be used to drive expansion efforts and strengthen the company’s supply chain operations, benefiting small businesses and consumers across the country.
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The issuer is solely responsible for the content of this announcement.
ShopUp
ShopUp is the largest full-stack B2B commerce platform in Bangladesh, offering a range of services to small businesses and consumers. The company operates the largest last-mile logistics network in Bangladesh and has raised over $200 million in investments from global investors.
Lendable
Lendable is a leading debt finance provider to fintech companies across frontier and emerging markets that create access to new financial products and services for un- and under-banked populations. Lendable finances fintech companies that facilitate consumer and MSME credit, productive asset finance, payments, remittances, and digital marketplaces. From its offices in Nairobi, London, and Singapore, and using its proprietary technology and data, Lendable directly originates, structures, underwrites, and monitors all transactions. To date, Lendable has disbursed over $340m to fintechs in over 14 countries.
To learn more about Lendable, visit https://lendable.io/
