Less than six months after it was founded, GariBaree.com, a Bangladesh-based marketplace for cars and property, has raised its first external investment. The company raised a total of BDT5.0 million ($45,600 U.S.) from a group of angel investors.
GariBaree, which was launched in April by alumni of Bikroy.com — the country’s leading general marketplace — offers a subscription-based model for the marketing of new and used cars, as well as property.
GariBaree’s competitors include Tiger Digital Ventures-backed auto marketplace GarirBazar.com and real estate marketplace BProperty.com. In January this year, the latter announced its intention to merge with marketplace operator Digital Classifieds Group.