Bangladesh’s Jarafa Launches eCommerce Marketplace

Jarafa has launched its reseller and wholesaler marketplace, the Bangladesh eCommerce company said in a news release Monday (April 18).

The company says the platform is open to both B2B and B2C customers, letting people communicate and buy and sell products from anywhere in the country.

“Jarafa’s main goal is to connect wholesalers and resellers with the help of its website and app, so all they have to do is click to make money,” the release said.

In addition, the company also plans to offer a loan program, as bank loans and other sources of funding can be difficult for businesses to attain at the “primary level,” the release said.

Md. Fahad, Jarafa’s CEO, said the platform is designed to provide “a social commerce ecosystem that is safe and secure” to help businesses grow and expand throughout Bangladesh.

“Ultimately, Jarafa aims to become a one-stop tool that helps businesses sell their products through Facebook and other social media platforms,” Fahad said.

The company also hopes to serve as a buffer between wholesalers and resellers, giving them support and management systems to help them expand their businesses.

“In the near future, Jarafa hopes to have a full inventory of business products. Jarafa holds the belief that each seller has a talent for a specific type of product,” the release said. “And by providing specific products to a variety of entrepreneurs, Jarafa’s motto is to evolve as a comprehensive business platform.”

Read more: Bangladesh’s ShopUp Announces $75M Series B Round

Last year, PYMNTS profiled ShopUp, which bills itself as the largest B2B commerce platform for small businesses in Bangladesh, following the company’s announcement that it had raised $75 million from a Series B funding round headed by Peter Thiel’s Valar Ventures.

In an interview with PYMNTS, VEON CEO Sergi Herrero used his company’s investment in ShopUp to illustrate their effort to create more digital financial inclusion.

“As the developed world progresses further into cashless living, for the 1.7 billion people who don’t have bank accounts — the world’s unbanked population — going cashless is not an option,” he said.