Editor’s Note: This story has been updated to include ShopUp’s statement. DealStreetAsia had reported the round hours ahead of the announcement, citing the startup’s regulatory filings.
Bangladesh-based business-to-business (B2B) commerce startup ShopUp has raised $65 million in a follow-on round led by Peter Thiel’s Valar Ventures, it said in a statement.
The company had previously completed a $109-million Series B round six months ago, with participation from Valar Ventures, Tiger Global, Prosus Ventures, Flourish Ventures, Sequoia Capital, and Veon Ventures.
Since then, the company has grown 4x times, and the existing investors are doubling down with this follow-on round, ShopUp said in its statement.