Pickaboo Secures $1.5 Million in Pre-Series A Funding Round Led by IDLC Venture Capital Fund
Pickaboo, the pioneering hybrid e-commerce platform in Bangladesh, blending digital and offline shopping experiences for electronic appliances, mobile phones, and gadgets, has successfully raised $1.5 million in a Pre-Series A funding round.
The financing was spearheaded by IDLC Venture Capital Fund I, with the participation of Startup Bangladesh Limited, Sr Infin, and Gero – esteemed global investors in tech startups.
Originally established in 2016 as a mobile phone and gadget-focused online marketplace, Pickaboo has since evolved into the nation’s premier omnichannel platform for mobiles and electronic appliances. The platform caters to customer preferences by offering both online and offline shopping options. Furthermore, Pickaboo empowers traditional retailers to establish multi-branded smart gadget stores under the Pickaboo brand umbrella.
Morin Hossain Talukder, Co-founder & CEO of Pickaboo, shared, “Pickaboo is revolutionizing the retail sector for mobiles, gadgets, and electronics through its innovative online and offline model. Our commitment to delivering authentic products with swift, flexible payment methods differentiates us strategically, setting us on a sustainable and unique path. Pickaboo’s vision is to become the foremost omni-channel platform for Electronics-Appliances and Mobiles.”
In a market marred by counterfeit products and unreliable services, Pickaboo has emerged as a trusted player, winning the loyalty of both consumers and appliance brands. The company’s unwavering focus on swift and secure deliveries of genuine products, along with adaptable payment options, has struck a chord with millions. The platform guarantees same-day delivery in Dhaka City and nationwide next-day delivery, enabled by its cutting-edge real-time order management technology.
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Samad N Miraly, Partner at IDLC Venture Capital Fund I, expressed confidence in Pickaboo’s potential, stating, “Pickaboo’s operational excellence and data-driven insights position it to be a dominant force in Bangladesh’s e-commerce landscape.”
He added, “As Bangladesh continues its rapid progress, we foresee a robust e-commerce infrastructure that consumers can benefit from for years to come. We’re delighted to support Pickaboo on this journey.”
The infusion of fresh funding will empower Pickaboo to further enhance the user experience for its customers, solidifying its position as the foremost omnichannel platform in the Electronic Appliance and Mobile phone domain. The funds will also support the expansion of offline stores, technological advancements, inclusion of new product categories, and team growth.
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Currently collaborating with over 300 major mobile and electronics brands such as Samsung, Apple, Xiaomi, Redmi, Infinix, Tecno, and Haier, Pickaboo boasts a user base of over a million registered customers who have embraced its combined online-offline shopping model over the years. This unique blend of digital and brick-and-mortar operations has bolstered Pickaboo’s overall demand aggregation, further enhancing its market presence.
