Valar Ventures Leads $75M Series B Financing of ShopUp
Gunderson Dettmer represented client Valar Ventures as it led the $75 million Series B financing of ShopUp, a Bangladeshi B2B commerce platform. According to ShopUp, this is the largest Series B funding round for a B2B commerce platform in South Asia.
In the announcement of the transaction, founding partner of Valar Ventures James Fitzgerald said, “The leadership team at ShopUp has shown strong execution capabilities over the last 12 months. They became clear market leaders with double-digit growth across three products built for the underserved small businesses in Bangladesh. In fast-growing frontier economies like Bangladesh, small businesses are the primary driver of the economy. We are excited to partner with Afeef’s vision of building a connected ecosystem of products to fast-track their transition to the online economy.”
The Gunderson Dettmer teams were led by Nick Harley and included Brian Snyder and Allison Giebisch.