Afeef Zaman, an entrepreneur and problem-solving expert, has dedicated his life to revolutionizing commerce and empowering entrepreneurs in emerging markets. Born and raised in Bangladesh, Afeef developed an innate curiosity and a passion for solving complex challenges from his childhood. His insatiable drive to make a positive impact led him to become a pioneer in his home country’s business landscape. In his early twenties, Afeef embarked on his entrepreneurial journey with the creation of Ice9 Interactive. He saw untapped potential in emerging economies and realized that innovative solutions were needed to catalyze their growth. Under his leadership, Ice9 Interactive emerged as a venture builder that focused on providing practical and impactful solutions for the unique challenges faced by these economies. Afeef’s ability to identify opportunities in adversity and his exceptional problem-solving skills propelled Ice9 Interactive to success, earning him a reputation as a forward-thinking business leader.
A pivotal moment in Afeef’s career arrived when he recognized the struggles faced by Bangladesh’s countless micro, small, and medium-sized enterprises. These businesses, often run by hardworking entrepreneurs, lacked access to the formal financial system due to a lack of digital presence. Determined to address this issue, Afeef founded ShopUp, a ground–breaking innovative
b2b (business-to-business) e-commerce platform.
As the CEO of ShopUp, Afeef Zaman spearheaded a movement that transformed how local entrepreneurs conducted business. The platform provided a comprehensive suite of services including digital credit, B2B sourcing, logistics, and business management solutions. This revolutionary approach empowered countless mom-and-pop stores to leapfrog into the digital age, enabling them to tap into the benefits of technology and access previously unattainable opportunities. Afeef’s unwavering commitment to his vision attracted significant attention and investment. In 2021, ShopUp achieved a monumental milestone by securing South Asia’s largest funding round, an impressive $75 million injection of capital. This endorsement not only validated Afeef’s approach but also highlighted the potential of the platform to reshape commerce in emerging markets.
Building on this momentum, ShopUp continued to thrive, recently concluding a series B extension round that raised an additional US$34 million. This infusion of funds solidified ShopUp’s position as a leader in the industry, poised to drive further innovation and transformation across Bangladesh’s business landscape. ShopUp’s success stems from its significant positive influence in the market. It bridges the gap between mills, manufacturers, and small shops, ensuring a smooth supply of food and essentials.
Presently, 20 million people of Bangladesh receive their daily fessentials from ShopUp’s network of small shops.
Afeef Zaman’s journey is marked by his dedication to problem-solving, his pioneering spirit, and his deep-rooted belief in the potential of emerging markets. Through his efforts, he has not only empowered entrepreneurs but also ignited a movement that transcends borders. Afeef envisions a future where technology, innovation, and entrepreneurship converge to uplift communities and economies worldwide.
