ShopUp, a leading B2B commerce platform in Bangladesh, raised $6.5 million in debt capital funding from Saison Investment Management Private Ltd (SIMPL), a credit venture arm of Japan’s Credit Saison, to make it a fully local supply chain through technology.
This strategic investment is a first for SIMPL in Bangladesh, signalling confidence in ShopUp’s ability to drive economic growth and financial inclusion in the country, said a press release.
By embedding financial solutions within its platform, the B2B platform simplifies transactions, allowing businesses to grow efficiently without the complexity of traditional financing methods.
The capital injection will empower retailers within the ShopUp ecosystem to expand their offerings and scale up their operations.
About the funding, Afeef Zaman, founder and CEO of ShopUp, said, “Our vision of reaching eight crore people becomes more important than ever before.
“We are determined to bring transparency to the food and consumer goods value chain, impacting the lives of millions who spend more than 50 percent of their income on these essentials,” he added.
Recognised as the third largest credit card issuer in Japan with over 20 million cardholders, Credit Saison is known for its diverse lending solutions in consumer, corporate and micro, small and medium enterprise (MSME) finance.
In addition to Japan, Credit Saison has expanded its operations in emerging markets such as Brazil, India, Indonesia, Mexico, Thailand, and Vietnam, leveraging local data infrastructure and diverse lending models.
