ShopUp, a leading B2B commerce platform in Bangladesh, has secured $6.5 million in debt funding from Saison Investment Management Private Ltd (SIMPL), the credit venture arm of Japan’s Credit Saison. This funding aims to localize ShopUp’s supply chain through advanced technology.
This marks SIMPL’s first investment in Bangladesh, reflecting confidence in ShopUp’s potential to drive economic growth and financial inclusion. The platform integrates financial solutions, simplifying transactions and enabling businesses to expand without traditional financing hurdles.
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The new capital will empower retailers within the ShopUp network to broaden their offerings and scale operations. Afeef Zaman, founder and CEO of ShopUp, emphasized the importance of their mission to reach eight crore people and bring transparency to the food and consumer goods value chain, significantly impacting millions who spend over half their income on these essentials.
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Credit Saison, Japan’s third-largest credit card issuer with over 20 million cardholders, is recognized for its diverse lending solutions across various sectors. Beyond Japan, Credit Saison has expanded into emerging markets like Brazil, India, Indonesia, Mexico, Thailand, and Vietnam, utilizing local data infrastructure and innovative lending models.
