ShopUp announced on 7 September 2021 that iit has raised US$75 million in a series B funding round led by Peter Thiel’s Valar Ventures. The round also included investment from Prosus Ventures (formerly Naspers Ventures), the venture investment arm of Prosus, along with existing investors Flourish Ventures, Sequoia Capital India, and VEON Ventures. The oversubscribed round is the largest Series B funding for a B2B commerce platform in South Asia. This new round of funding comes only ten months after the startup announced its Series A round of US$22.5 million. This round brings ShopUp’s total funding to over US$110 million, making it the best-funded start-up in Bangladesh.
