ShopUp, a full-stack B2B commerce platform in Bangladesh, recently announced that it had received more than Tk 300 Crore ($30 million) in debt funding, according to a report by Asia Tech Daily.

The funding marks yet another important turning point for the nation's startup sector.

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ShopUp secures Series B4 funding of more than BDT 580 Crore

Lendable, a global provider of debt to fintech startups in emerging regions, contributed  $20 million to the $30 million financing round, marking their first investment in South Asia.

The City Bank also provided $10 million in loan financing to ShopUp, a first for a local business. 

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Inside ShopUp's brand new 60,000 sq ft headquarters

The money will be used to boost the company's supply chain operations and support expansion efforts, thereby helping small businesses and consumers nationwide.