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Bangladesh tech startup ShopUp nets $65m in new funding

Peter Thiel's Valar Ventures leads latest round for mom-and-pop platform

Bangladesh is one of the most fragmented retail markets in Asia, relying on neighborhood shops across the country that ShopUp wants to get online. (Photo courtesy of ShopUp)

CEBU, Philippines -- Bangladesh-based business-to-business commerce startup ShopUp has raised $65 million in a follow-on funding round led by Peter Thiel's Valar Ventures, it said in a statement.

The company 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.

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