Priyoshop closes $5M pre-series A

PriyoShop, a B2B retail marketplace catering to MSMEs in Bangladesh, has successfully closed a pre-Series A funding round, securing $5M.

• Investor Line Up: Century Oak Ventures spearheaded the investment, with participation from Evolution Ventures, Iterative, SOSV (Orbit Startups), GFR Fund, BonBillo, Accelerating Asia, South Asia Tech Partners, and Voltity.

• Expansion Plans: Armed with this significant financial boost, PriyoShop is set to revolutionize its operations. The company plans to bolster its technological infrastructure, widen its geographic footprint, and deepen its market penetration.

• Transforming Retail Supply Chains: Since its inception in July 2021 by Asikul Alam Khan and Dipty Mandal, PriyoShop has been at the forefront of modernizing the retail supply chain landscape in Bangladesh.

• Financial Empowerment: PriyoShop has forged a strategic alliance with LankaBangla Financing, a digital financing platform. This partnership enables PriyoShop to offer MSMEs tailored credit facilities and access to supply chain financing options, facilitating their business expansion endeavors.

• Brand and Supplier Partnerships: PriyoShop also boasts partnerships with over 200 renowned brands, including companies such as Pusti, Rupchanda, Teer, New Zealand Dairy, Pepsico, and Coca-Cola.

PriyoShop's mission extends beyond mere transactional facilitation; it seeks to spearhead a holistic digital transformation within the retail sector. By digitizing logistics support and adopting full-stack digital infrastructure, PriyoShop empowers brands and suppliers to optimize supply chain management processes effectively.