In separate deal updates from Bangladesh, the International Finance Corporation is considering extending a loan to Popular Pharmaceuticals, while startup Jatri announced securing investment from Gobi Partners.
Bangladesh travel commerce platform Jatri secures funding
Jatri, a Bangladesh-based B2B travel commerce platform, announced that it secured a strategic investment from Asia-focused venture capital firm Gobi Partners.
Financial terms were not disclosed. The investment marks Gobi Partners’ first investment in Bangladesh, the companies said.
Jatri was founded by Aziz Arman, Khandokar Taswar Zahin, and Zia Uddin in early 2019 to make travelling by public transport more comfortable in one of the most densely populated countries in the world.
The company now helps travel agents, travel management companies, and corporate buyers access, distribute, and finance travel inventory through a single platform.
The company said it operates in more than 100 cities across Southeast Asia, the Middle East, the UK, Europe, and North America, and has processed more than 250 million lifetime transactions.
Jatri announced its Series A funding in April 2023. The round was anchored by venture capital firm SBK Tech.
IFC mulls $30.7m loan for Popular Pharmaceuticals
World Bank Group member International Finance Corporation (IFC) is weighing a loan of up to $30.7 million to Popular Pharmaceuticals, a mid-sized pharmaceutical manufacturer in Bangladesh, according to a disclosure.
The loan will be used mainly to procure raw materials that are mostly imported, helping the pharma firm maintain production and ensure an uninterrupted supply of essential medicines, IFC said.
The US dollar-denominated loan will have a six-year tenor, including a 1.5-year grace period, IFC said, allowing the company to navigate current liquidity constraints and maintain continuity of operations. The pharma firm’s factory is located in Gazipur, about 23 km north of Dhaka.
Founded in 2006, Popular Pharmaceuticals ranks ninth by revenue in Bangladesh’s pharma market. The company is part of Popular Group, a family-owned healthcare conglomerate with operations across diagnostics, pharmaceuticals, hospitals, and medical education.
IFC said the project is expected to improve access to high-quality pharmaceutical products in Bangladesh, supporting growth plans, including higher sales in the hormones segment.
