SA company invests in start-up digitising neighbourhood stores in Bangladesh
Prosus has taken part in a R1.1bn funding round for a small Bangladesh commerce platform. It is part of SA’s biggest company by market value to bet on start-up companies it deems to have long-term growth potential. it has raised $75m in a series B funding round led by billionaire Peter Thiel’s Valar Ventures.
This funding round brings ShopUp’s total funding to more than $110m, making it the best-funded start-up in Bangladesh. 98% of all retail consumption happening throughIn essence,SAfeef Zaman outlined plans for the business, saying: “Our mission is to put 4.5-million small retailers in the driving seat of Bangladesh’s economic growth.”
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