ShopUp
ShopUp (Shopfront Limited) is a Bangladesh-based full-stack B2B commerce and logistics platform connecting mills and manufacturers to small neighborhood retailers via its Mokam marketplace and REDX last-mile network; it merged with Sary in April 2025 to form SILQ Group.
- Company typePrivate
- Founded2016
- HeadquartersDhaka, Bangladesh
- Headcount501–1,000
- GTM typeB2B
- OfferingDigital Commerce or Content
What ShopUp does
ShopUp (legal entity: Shopfront Limited) is a Bangladesh-headquartered full-stack B2B commerce and logistics platform that connects mills and manufacturers to small neighborhood retail shops. Founded in 2016 and based in Dhaka, the company operates through three branded products: Mokam, a B2B commerce platform providing retailers access to food and household essentials at fair prices; REDX, the largest last-mile logistics network in Bangladesh spanning 493 sub-districts across 64 districts; and Briddhi, an additional product line whose specifics are not publicly disclosed. The company serves SMB customers via direct sales and self-serve digital channels, with stated reach into 31 million people in Bangladesh through 600,000+ retailers.
ShopUp generates revenue primarily through transaction-based fees on B2B commerce flows (Mokam product margins and transaction facilitation) and last-mile delivery fees (REDX). Its go-to-market combines direct sales teams onboarding neighborhood shops with web and mobile self-serve access (e.g., mokam.com.bd). The company has raised over $218M in equity and debt across multiple tranches between 2018 and 2023 from investors including Valar Ventures, Tiger Global Management, Sequoia Capital India, Flourish Ventures, Veon Ventures, Lendable, and The City Bank, making it the best-funded startup in Bangladesh.
In April 2025, ShopUp merged with Sary (Saudi Arabia) to form SILQ Group, creating the largest B2B commerce platform in the Gulf and Emerging Asia regions. The combined entity has served 600,000+ retailers, facilitated transactions exceeding $5 billion, and processed 100 million shipments. The merger was backed by $110M in funding led by Sanabil Investments (Saudi PIF-affiliated) with participation from Valar Ventures and Saudi Arabia's Public Investment Fund. ShopUp maintains offices in Dhaka, Dammam (regional HQ), Dubai, and Singapore, and continues to operate under the SILQ Group umbrella.
ShopUp firmographics
Firmographics- Name
- ShopUp
- Legal name
- Shopfront Limited
- Website
- https://shopup.com.bd
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- ShopUp (Shopfront Limited) is a Bangladesh-based full-stack B2B commerce and logistics platform connecting mills and manufacturers to small neighborhood retailers via its Mokam marketplace and REDX last-mile network; it merged with Sary in April 2025 to form SILQ Group.
- Ownership category
- akta.pro rank
ShopUp industry classification
Industry- Product category
- B2B Commerce Platform
- NAICS
- Supermarkets and Other Grocery Retailers (except Convenience Retailers) (44511), Grocery and Convenience Retailers (4451), General Merchandise Retailers (455)
- SIC
- Wholesale-Groceries, General Line (5141)
- akta.pro primary industry
- Wholesale/B2B Generalist Marketplaces (CRAFAAAF)
- akta.pro secondary industries
- B2B Marketplaces & Wholesale Platforms (BPAMAGAD), Wholesale / Club Store Bulk Grocery Delivery (TLAAAHAH)
Keywords
Where ShopUp is headquartered
LocationHeadquarters
- HQ city
- Dhaka
- HQ country
- Bangladesh
- HQ region
- Asia
Offices4 records
Markets served
ShopUp business model
Business model- GTM type
- B2B
- Offering type
- Digital Commerce or Content
- Cost components
- Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales
Revenue model
- B2B Commerce (Mokam): Platform connecting manufacturers and mills to small retail shops, facilitating product sourcing and distribution. Revenue generated from product margins and transaction facilitation.
- Last-Mile Logistics (REDX): Logistics and delivery services for businesses across Bangladesh. Revenue generated from delivery and shipping fees.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
ShopUp product offering
Product offeringCore offering
ShopUp operates a full-stack B2B commerce platform that connects mills and manufacturers to small neighborhood retail shops for the sourcing of food and household essentials. Its Mokam product handles B2B sourcing and product distribution, while its REDX product provides last-mile logistics reaching 493 sub-districts across 64 districts in Bangladesh. The combined SILQ Group entity (post-merger with Sary) serves over 600,000 retailers.
Product overview
ShopUp is a full-stack B2B commerce platform that embeds commerce, logistics, and financing solutions together to supercharge small businesses. The platform consists of two core products: Mokam (B2B commerce platform connecting mills and manufacturers to small neighborhood retail shops) and REDX (last-mile logistics network for businesses).
Differentiator
Problem solved
Functional benefit
Brands
- Mokam: B2B commerce platform that connects mills and manufacturers to small neighborhood retail shops for quality food and household essentials.
- REDX
- Briddhi
Products and services
- Mokam B2B commerce platform that connects mills and manufacturers to small neighborhood retail shops, ensuring a seamless network for quality food and household essentials with guaranteed fair pricing.
- REDX Largest last-mile logistics network for businesses in Bangladesh, ensuring smooth movement of goods across the country, reaching 493 sub-districts spanning 64 districts with 250+ delivery points.
Quantifiable outcome
- ShopUp facilitates access to food and essentials for 31 million people in Bangladesh
- +4 more outcomes
Companies that use ShopUp
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
ShopUp technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
ShopUp partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered flagship and major.
- SaryflagshipShopUp and Sary merged in April 2025 to form SILQ Group, creating the largest B2B commerce platform in Gulf and Emerging Asia regions. The combined entities served 600,000+ retailers and facilitated $5B+ in transactions.
- VoonikmajorShopUp expanded its operations through a merger with Bengaluru-based Voonik in September 2021, adding new products and growth across its platforms. This merger strengthened ShopUp's position in the B2B commerce space.
Scale indicators8 records
Recent moves7 records
Expansion highlights6 records
ShopUp competitors and assessment
Company assessmentDirect peers
- Porter: India-based intra-city logistics and last-mile delivery platform for SMBs and e-commerce merchants. Directly comparable to ShopUp's REDX logistics network in serving small businesses with on-demand delivery across fragmented urban and semi-urban markets in South Asia.
- Udaan: India's largest B2B commerce platform connecting manufacturers and wholesalers to small retailers. Direct competitor to ShopUp's Mokam platform, operating an analogous model of digitizing fragmented retail supply chains in South Asia, though at significantly larger scale and with a broader category mix.
- Meesho: India's leading social commerce platform enabling small merchants and resellers to source and resell products. Comparable to ShopUp in its focus on digitizing micro-entrepreneurs and small retailers in emerging markets, though anchored more on the consumer-facing social commerce model.
- Ninja Van: Leading Southeast Asia last-mile logistics provider serving e-commerce and SMB merchants across six countries. Directly comparable to REDX's role as ShopUp's logistics backbone, though operating at much larger scale and across a broader Southeast Asian footprint.
- DealShare: India-based B2B commerce and social commerce platform serving small retailers and kirana stores with FMCG and grocery products. Closely mirrors ShopUp's Mokam in targeting the same SMB retail segment in South Asia with wholesale pricing and last-mile fulfillment.
- Sary (now SILQ Group): Saudi Arabia-based B2B commerce platform serving small retailers that merged with ShopUp in April 2025 to form SILQ Group. Operates the same B2B marketplace + logistics model in the Gulf region, making it the most directly comparable peer and now the combined entity.
Broad incumbents
- J&T Express: Major Southeast Asia-headquartered logistics and parcel delivery company with broad operations across the region including Bangladesh. Comparable to REDX as a competitor in last-mile delivery, though J&T operates as a general courier rather than a B2B-focused logistics provider.
- MetroBazaar (METRO Cash & Carry): Global cash-and-carry wholesale chain operating in South Asia (India, Pakistan, Bangladesh) serving B2B customers including small retailers and HoReCa. Comparable to ShopUp's Mokam as a B2B supplier to small retailers, though operates through physical wholesale stores rather than a digital marketplace model.
Emerging players
- CapBay: Malaysia-based B2B commerce and embedded financing platform for SMEs. Comparable to ShopUp's full-stack model (commerce + financing) in Southeast Asia, though operating in a different geography with more focus on financial services for the SMB segment.
- Khatabook: India-based digital ledger and SMB commerce platform serving small merchants with bookkeeping, payments, and supplier sourcing tools. Comparable to ShopUp in targeting the same micro-retailer segment with digital tools, though focuses more on financial management than physical goods distribution.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
ShopUp social profiles
Digital presenceShopUp financial estimates
Financial estimateRevenue estimate
Valuation estimate
ShopUp leadership team
Management profileNumber of profiles
Profiles4 records
ShopUp subsidiaries and ownership
Company hierarchySubsidiaries3 records
ShopUp funding detail
Funding detailFunding overview
Funding rounds10 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ShopUp M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ShopUp
What does ShopUp do?
ShopUp operates a full-stack B2B commerce platform that connects mills and manufacturers to small neighborhood retail shops for the sourcing of food and household essentials. Its Mokam product handles B2B sourcing and product distribution, while its REDX product provides last-mile logistics reaching 493 sub-districts across 64 districts in Bangladesh. The combined SILQ Group entity (post-merger with Sary) serves over 600,000 retailers.
Is ShopUp a public or private company?
ShopUp is a private company. It is classified as venture growth investor backed and is currently operating.
When was ShopUp founded?
ShopUp was founded in 2016. It employs 501 to 1,000 people.
Where is ShopUp based?
ShopUp is headquartered in Dhaka, Bangladesh, in the Asia region.
How does ShopUp make money?
Two revenue lines are on record. B2B Commerce (Mokam) is the primary driver. The others are last-Mile Logistics (REDX).
Who are ShopUp's main competitors?
Direct peers on record are Porter, Udaan, Meesho, Ninja Van, DealShare and Sary (now SILQ Group). Broad incumbents are J&T Express and MetroBazaar (METRO Cash & Carry). Emerging players are CapBay and Khatabook.
Does ShopUp have an API?
No public API is recorded for ShopUp.
What industry is ShopUp in?
ShopUp's product category is B2B Commerce Platform. Its primary akta.pro industry code is CRAFAAAF, Wholesale/B2B Generalist Marketplaces, with a secondary code of BPAMAGAD, B2B Marketplaces & Wholesale Platforms. Its NAICS code is 44511 and its SIC code is 5141.