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ShopUp has successfully raised $110 million in funding through a strategic merger with Sary, creating SILQ Group. The funding was led by Sanabil Investments and Valar Ventures to enhance their B2B commerce platform.

PRIVATEApr 14, 2025•about 1 year ago

Amount Raised

$110 Million

Bangladesh

Investors

Thiel CapitalValar VenturesSanabil Investments

Description

On April 9th, ShopUp announced a strategic merger with Sary, forming the SILQ Group, a cross-regional B2B commerce platform. This significant merger was supported by $110 million in funding. The funding was led by prominent investors Sanabil Investments and Peter Thiel's Valar Ventures. This move aims to strengthen their market presence across the Gulf and emerging Asia.

Company Information

Company

ShopUp

Location

Bangladesh

About

ShopUp is Bangladesh's leading full-stack B2B commerce platform for small businesses (online and offline). We provide easy access to B2B sourcing, last-mile logistics, digital credit and business management solutions to small businesses. Why should one work for ShopUp? Simply, to be a part of a positive force that brings change to the economy of Bangladesh. Small businesses have always been the back bone of our economy, and when we facilitate their growth, not only do we help the micro entrepreneurs, but we ourselves grow leaps and bounds. Our backers at Flourish ventures, Omidyar Network, Sequoia Capital think the same! At ShopUp we dream big, grow fast, work smart, and at the same time change thousands of lives for the better!

Predictive Intelligence
Strategic

ML-powered predictions for ShopUp's next move

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals — including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications — based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include FundzWatch™ for automated website change detection, Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 200,000+ companies. Developers and data teams can access these signals programmatically via the Fundz Funding Data API, with transparent published pricing.

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