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Market Digest

Jamuna Group to invest Tk 10b in Evaly

Jamuna Group to invest Tk 10b in Evaly
  • Staff Correspondent
  • 29 July, 2021 12:00 AM
  • Print news

Jamuna Group is going to invest Tk 10 billion (Tk 1,000 crore) in Bangladesh’s e-commerce company Evaly.

 “Initially, Jamuna will invest Tk 200 crore. The company plans to invest a total of Taka one thousand crore phase by phase,” it read, an Evaly press release said on Tuesday.

This information was given by Evaly in a press release on Tuesday. However, neither party has disclosed the original market value price of the e-commerce company.

Welcoming such an investment, Mohammad Rassel, Founder and CEO of Evaly, said, "We as a local venture are really pleased to have another local company by our side”. Through this investment Jamuna is part of the ongoing investments and they have the opportunity to invest in the next phase as well. This investment will be spent on the future development and business scope of Evaly.

Regarding this investment, Shamim Islam, Managing Director of Jamuna Group, a leading industrial group in the country, said, "Global trend wise ecommerce can play good role in country economy." Such as Amazon in the case of the United States, Alibaba in the case of China. Welcoming the partnership between Evaly and Jamuna Group, Monica Islam, Group Director of Jamuna Group, said that Jamuna Group has been doing business with quality products and services in the country's market. Jamuna Future Park is the largest offline marketplace in Bangladesh. And now Evaly will remain as the largest online marketplace with Jamuna Group.