, Bangladesh
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ShopUp to establish 700 distribution hubs across Bangladesh by 2025

It is eyeing entry into Gulf region markets. 

Bangladesh's B2B commerce platform ShopUp is planning to expand its distribution hub network to 700 locations in the country by December 2025.

The group also said it is eyeing entry into Gulf region markets. 

"SMEs are the cornerstone of economic prosperity in these regions, and our aim is to empower them, driving growth and creating value across emerging markets," said Afeef Zaman, founder and CEO of ShopUp.

The company's revenue surged to $129m last fiscal year, up from $83m.

"Our focus on positive unit economics has led to gross margin positivity and reduction in our adjusted losses for FY ending June 2023,” said Vashistha Maheshwari, CFO of ShopUp. “Continuing that momentum, we have turned monthly EBITDA positive in December 2023.”

ALSO READ: BNPL to reach 7.7% of APAC e-commerce payments by 2028

ShopUp has pioneered a new model of commerce that integrates embedded financing, payment processing, and logistics. Through this model, the company connects mills, brands, and manufacturers with a vast network of small shops via a hub-enabled distribution network.

Currently, with 427 micro-fulfillment hubs, ShopUp has successfully linked 31 million people in Bangladesh to essential goods, nearly doubling the country's total e-commerce user base.

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