About ShopUp
ShopUp is a company based in Dhaka (Bangladesh) founded in 2017 by Ataur Rahim Chowdhury, Sujayath Ali, Afeef Zaman, and Navaneetha Krishnan Jaganathan. It operates as a Two-Sided Marketplace, and Managed Services. ShopUp has raised $198.12 million across 8 funding rounds from investors including Citi, VEON and Saison Card. The company has 1 employees as of April 08, 2024. ShopUp offers products and services including Mokam and REDX. ShopUp operates in a competitive market with competitors including Cart.com, AnyMind Group, BigCommerce, ANS Commerce and CommerceIQ, among others.
- Headquarter Dhaka, Bangladesh
- Employees 1 as on 08 Apr, 2024
- Founders Ataur Rahim Chowdhury, Sujayath Ali, Afeef Zaman, Navaneetha Krishnan Jaganathan
-
Sectors
Retail
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Shopfront Limited
- Date of Incorporation 14 Mar, 2024
- Jurisdiction Bangalore North, Karnataka, India
-
Annual Revenue
-
Net Profit
-
EBITDA
-
Total Equity Funding
$198.12 M (USD)
in 8 rounds
-
Latest Funding Round
$6.5 M (USD), Debt – Conventional
Aug 17, 2024
-
Investors
Citi
& 12 more
-
Employee Count
1
as on Apr 08, 2024
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Products & Services of ShopUp
ShopUp offers a comprehensive portfolio of products and services, including Mokam and REDX. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Mokam connects manufacturers to small retail shops efficiently.
REDX provides last-mile logistics across extensive national coverage.
Unlock access to complete
Funding Insights of ShopUp
ShopUp has successfully raised a total of $198.12M across 8 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $6.5 million completed in August 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 8
- Last Round Debt – Conventional — $6.5M
-
First Round
First Round
(12 Nov 2018)
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2024 | Amount | Debt – Conventional - ShopUp | Valuation |
investors |
|
| Feb, 2023 | Amount | Debt – Conventional - ShopUp | Valuation |
investors |
|
| Jun, 2022 | Amount | Series B - ShopUp | Valuation | Flourish , Valar Ventures |
|
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in ShopUp
ShopUp has secured backing from 13 investors, including institutional and venture fund investors. Prominent investors backing the company include Citi, VEON and Saison Card. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Flourish Ventures is focused on investing in mission-driven fintech entrepreneurs.
|
Founded Year | Domain | Location | |
|
Global investments in tech sectors are conducted by Valar Ventures.
|
Founded Year | Domain | Location | |
|
Venture and private equity investments are managed with global diversification.
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by ShopUp
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
Financial Statements - ShopUp
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Shopup Comparisons
Competitors of ShopUp
ShopUp operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Cart.com, AnyMind Group, BigCommerce, ANS Commerce and CommerceIQ, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Software suite solutions are provided for e-commerce businesses.
|
|
| domain | founded_year | HQ Location |
Platforms for e-commerce, marketing, and manufacturing are provided.
|
|
| domain | founded_year | HQ Location |
SaaS-based software suites for e-commerce operations are provided.
|
|
| domain | founded_year | HQ Location |
E-commerce solutions and logistics are provided for online businesses.
|
|
| domain | founded_year | HQ Location |
AI platform for retail ecommerce management and optimization is provided.
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Latest news on Shopup
Frequently Asked Questions about ShopUp
When was ShopUp founded?
ShopUp was founded in 2017 and raised its 1st funding round 1 year after it was founded.
Where is ShopUp located?
ShopUp is headquartered in Dhaka, Bangladesh.
Who is the current CEO of ShopUp?
Afeef Zaman is the current CEO of ShopUp. They have also founded this company.
Is ShopUp a funded company?
ShopUp is a funded company, having raised a total of $198.12M across 8 funding rounds to date. The company's 1st funding round was a Series B of $65M, raised on Nov 12, 2018.
How many employees does ShopUp have?
As of Apr 08, 2024, the latest employee count at ShopUp is 1.
What does ShopUp do?
ShopUp is dedicated to supporting small businesses by integrating commerce, logistics, and financing solutions. The company operates in Bangladesh, connecting manufacturers and mills to neighborhood retail shops via its B2B platform, Mokam. Additionally, its logistics network, REDX, ensures last-mile delivery across 493 sub-districts in 64 districts. ShopUps services are designed to facilitate access to essential goods for millions, while enabling small business growth in challenging economic conditions.
Who are the top competitors of ShopUp?
ShopUp's top competitors include CommerceIQ, Cart.com and aCommerce.
What products or services does ShopUp offer?
ShopUp offers Mokam and REDX.
Who are ShopUp's investors?
ShopUp has 13 investors. Key investors include Citi, VEON, Saison Card, Speedinvest, and Prosus.
Book a demo & talk to our team
Share a few details and we’ll reach out to schedule a session.