ShopUp is Bangladesh's one of the leading full-stack B2B commerce platforms for small businesses both online and offline which provides easy access to B2B sourcing, last-mile logistics, digital credit and business management solutions to small businesses. ShopUp has recently raised USD 30 Mn debt financing from Lendable, a UK-based lending platform and The City Bank, a local lender. 

Afeef Zaman, Founder & CEO of ShopUp said, “The new debt facilities will help us reach our goal of creating a seamless distribution network for food and essentials that serves 80 million people in Bangladesh. Our recent success in securing financing is a reflection of our financial stability and our efforts towards having a positive impact in Bangladesh.”

Hani Ibrahim, CIO of Lendable shared, “We have been impressed by the scale of business and quality of the team that ShopUp has built to date and are happy to be supporting the impactful work ShopUp has been doing in providing access to goods and capital to underserved in Bangladesh.”

The funding comes after the company's USD 65 Mn follow-on round in June 2022, which was led by Valar Ventures and represents a critical turning point for ShopUp and the whole startup ecosystem in Bangladesh.