PriyoShop, a Dhaka, Bangladesh-based B2B retail marketplace for MSMEs, raised US$5M in Pre-Seed funding.
The round was led by Century Oak Ventures, with participation from Evolution Ventures, Iterative, SOSV (Orbit Startups), GFR Fund, BonBillo, Accelerating Asia, South Asia Tech Partners, and Voltity.
The company intends to use the funds to roll out its retail supply chain solutions designed to benefit businesses across various sectors.
Co-founded by Asikul Alam Khan (Chief Executive Officer) and Dipty Mandal (Chief Marketing Officer), PriyoShop offers exclusive partnerships with brands and suppliers, helping them digitalize logistics support, streamline operations, expand nationwide access throughout Bangladesh, and adopt full-stack digital infrastructure to manage their supply chains. Partner brands and suppliers can utilize its distribution services to handle a diverse range of products, including consumer goods, electronics, fashion items and more.
To date, the company has partnered with over 200 brands, including Pusti, Rupchanda, Teer, New Zealand Dairy, Pepsico, Coca-Cola and many more. It is also expanding into the food & beverage industry, streamlining supply chains for hotels, restaurants and cafes.
Through the company’s partnership with digital financing platform LankaBangla Financing, PriyoShop is able to help MSMEs scale up their businesses through credit facilities and access to supply chain financing options.
FinSMEs
20/02/2024