SWAP acquires 49% stake in e-commerce platform BDHotDeals.com

SWAP, a recommerce digital marketplace in Bangladesh, has acquired a 49% stake in dropshipping e-commerce platform, BDHotDeals.com. The amount, however, was not immediately disclosed.

Mr. Parvez Hossain, Founder and Chief Executive Officer of SWAP, confirmed the news to The Daily Star. As a part of the deal, SWAP will provide multiple services, such as strategic planning, operational skills, infrastructure, and provide brand value with its strategic investment.

On the other hand, BDHotDeals will build a bridge between customers and retailers and search for the best local and global deals from brands worldwide.

"SWAP intends to become the most trusted and affordable recommerce digital platform for anyone to buy and sell products. Going forward, we want to build an ecosystem for buyers and sellers. The strategic investment in BDHotDeals is a part of that objective." said Parvez.

SWAP started its journey back in 2020. In recent times, it secured $1.25 million seed funding in its seed round led by Singapore based accelerator program Accelerating Asia. ZA Capital Advisory, Bangladesh Angels, and other individuals also joined in this round of funding.

The partial acquisition will offer registered SWAP users and other customers the opportunity to buy genuine products from overseas in the most transparent way.