Commerce platform ShopUp raises $75 million led by Valar in Bangladesh’s largest funding

ShopUp, a startup that is digitizing neighborhood stores in Bangladesh, has raised $75 million in a new financing round that is also the largest in the South Asian market.

Peter Thiel’s Valar Ventures led ShopUp’s $75 million Series B round. Prosus Ventures as well as existing investors Flourish Ventures, Sequoia Capital India, and VEON Ventures also invested in the round. The new investment, which brings the startup’s all-time raise to over $100 million, is also Valar’s and Prosus’ first deals in Bangladesh, home to over 100 million internet users.

Like its neighboring nation, India, more than 95% of all retail in Bangladesh goes through neighborhood stores. There are about

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