AsiaCar Group’s investment in Garirbazar and Motor-bazar is a testament to Bangladesh’s flourishing technology start-up sector.
Garirbazar, the biggest online auto portal from Bangladesh, recently purchased one of the top auto classified websites from Bangladesh, Motor-bazar.
Motor-bazar and Garirbazar both operated independently as online marketplaces in the Bangladesh automotive sector providing locals an online portal to buy and sell automobiles and adjacent services and products.
Garirbazar is backed by global internet company AsiaCar Group which has investments in over 19 Asian different countries including Bhutan, Nepal, Myanmar to name a few. AsiaCar Group’s investment in Garirbazar and Motor-bazar is a testament to Bangladesh’s flourishing technology start-up sector.
AsiaCar Group’s CEO and Co-Founder, Fredrik Orrenius said “Bangladesh is a key strategic investment for us due to the country’s strong economic growth, quality of talented young people and Bangladesh’s entrepreneurial culture and resilience. Garirbazar is perfectly positioned to take advantage of this Bangladesh online marketplace opportunity.”
The combined entity is registered locally in Bangladesh under the name Tiger Digital Ventures (TDV). TDV has already secured two relationships with two local financial institutions and over 100 car dealerships in Bangladesh. Co-Founder of Motor-Bazar, Sabil Chowdhury commented “TDV’s local profile with local domain names, content, languages, and social media has proven to be key for higher reach and higher engagement.”
TDV will continue to operate Garirbazar and redirect traffic from Motor-Bazar.com to Garirbazar to become the premier “one-stop-shop” for all automotive products, services, and needs in Bangladesh. As a result, users of Garirbazar will benefit from better choice, prices, content and user experience.