13 July 2024

Silicon Valley’s GFR Fund explores promising investment landscape in Bangladesh

Mazharul Islam Mitchel

Published: 21:24, 4 July 2024

Update: 21:25, 4 July 2024

Silicon Valley’s GFR Fund explores promising investment landscape in Bangladesh

PriyoShop, a leading B2B marketplace and smart distribution platform in Bangladesh, recently hosted a momentous visit from its esteemed investor, GFR Fund.

During the visit, Jeremy Lim, GFR's lead for emerging markets, met with the PriyoShop team, toured various PriyoShop sub-hubs, and engaged with customers and suppliers as part of GFR's investment strategy is exploring opportunities in promising emerging markets like Bangladesh, reads a press release.

Making its first investment in the country, GFR Fund is excited to delve into the dynamics and potential of the Bangladeshi market. During their visit, the team engaged in comprehensive discussions with PriyoShop's leadership, gaining valuable insights into its operations, growth trajectory, and plans.

They also witnessed firsthand the efficiency and scale of PriyoShop's logistical operations. GFR interacted with local customers, gathering valuable feedback on the user experience and satisfaction levels.

Additionally, meetings with suppliers provided a deeper understanding of the entire supply chain network and core partnerships that drive PriyoShop's success.

"We are thrilled to host GFR Fund and showcase the potential of Bangladesh as an emerging economy," said Asikul Alam Khan, CEO of PriyoShop. "GFR's visit is a testament to the growing interest in Bangladesh as an increasingly vibrant emerging market. We are proud to be GFR Fund's first investment in Bangladesh and are excited about the possibilities of this partnership."

While Bangladesh is a new experimental market for GFR Fund, they have expressed their excitement about the emerging economy as well as the opportunities presented.

Jeremy Lim of GFR Fund emphasized his appreciation for the innovation, dedication, and growth demonstrated by PriyoShop. He also shared, "Our visit to Bangladesh has been incredibly insightful to witness the opportunities firsthand. Priyoshop's work in the economy is aligned with its mission to revolutionize the supply chain with embedded finance and help empower the lives of many micro-merchants moving forward."

GFR has started taking an interest in emerging markets like India, Africa, and Bangladesh. PriyoShop aims to create a smart distribution platform to cater to 5 million small MSMEs, serving 200 million people.

The company has helped 200+ brands and suppliers connect with 63,000 MSMEs by simplifying their supply chain process. The support from GFR Fund will further strengthen its position in the market.

This visit marks the beginning of a promising partnership aimed at fostering growth and delivering exceptional value to customers and stakeholders alike.