- PriyoShop secured $5 million to expand its reach and digitize the country’s retail sector.
- This funding will fuel PriyoShop’s technology and financial solutions.
- The investment signifies the vast potential of digitizing Bangladesh’s retail landscape.
PriyoShop, a B2B retail platform empowering Micro, Small, and Medium Enterprises (MSMEs) in Bangladesh, has secured $5 million in a pre-Series A funding round.
The investment, led by Century Oak Ventures, will fuel the company’s mission to digitize the country’s fragmented retail sector and provide critical support to its millions of small businesses.
How will PriyoShop empower merchants?
Founded in 2021, PriyoShop connects MSMEs directly with major brands like PepsiCo and Coca-Cola, offering competitive prices, fast deliveries, and access to financial services.
This funding round, which also saw participation from Evolution Ventures, Iterative, and Orbit Startups, will enable PriyoShop to bolster its technology infrastructure and introduce new financial solutions to attract and empower merchants further.
Modernizing Bangladesh’s Retail Ecosystem
“This investment will allow us to scale our platform, reach more merchants, and ultimately, positively impact over one million businesses in the coming year,” said Asikul Alam Khan, PriyoShop’s founder and CEO.
“We’re tapping into a vast market – small local stores account for a staggering 97% of Bangladesh’s retail sales – and we’re committed to providing them with the tools and resources they need to thrive in the digital age.”
PriyoShop is poised to play a significant role in modernizing Bangladesh’s retail ecosystem. By bridging the gap between MSMEs and major brands, the company is unlocking new opportunities for small businesses and contributing to the country’s overall economic growth.
