Bangladesh is the eighth densely populated country in the world. Its population is 163 million, according to worldmeters.com. With over 50 million Internet users and 131.1 million mobile subscribers, the country is a fertile ground for fintech start-ups. This list of popular fintech companies in Bangladesh will give you an overview of the fintech sector in the country:
Founded in November 2012, CloudWell offers several payment solutions under its brand name PayWell, including prepaid debit cards, payment gateways, and point-of-sale systems. PayWell is used for prepaid mobile phone top ups, train ticket purchases, utility bill payments etc. CloudWell has a network of more than 5,000 retail shops. Its main customers include big enterprises across the financial services, telecommunications, and e-commerce industries.
bKash Limited is dedicated to providing Mobile Financial Services. Its ultimate objective is to ensure access to a wider range of financial services for the people of Bangladesh. The company has a special focus to serve the low-income people to achieve broader financial inclusion by offering services that are convenient, affordable and reliable. Launched in July 2011, the company reached 11 million accounts by the end of 2013, less than three years after launch.
DBBL provides the most innovative and affordable banking products in Bangladesh. Its mobile banking platform allows customers to manage their money via their mobile phones. At The Asian Banker Technology Implementation Awards 2012, the platform garnered the “Best Mobile Banking Initiative Award”. Since its launch in 2011, DBBL Mobile Banking has won several awards, including the National Digital Innovation Award in Bangladesh, the eAsia Award in Dhaka for best ‘Driving Economy’, and MMT Awards in Dubai for ‘Best Mobile Banking Program of the World’.
SureCash is a leading mobile banking and mobile payment network, connecting people, banks, and businesses in Bangladesh. Using SureCash platform, customers make and receive various payments such as utility bills, education fees, personal remittance and online purchase using phones. SureCash is working with 6 local banks, 350 payment partners and over 41000 retail agents.
Launched in 2015, SmartKompare aims to help consumers to find best financial products from many options. The start-up lets users compare financial products from numerous financial institutions and select the best. The service is simple: looking for best loans, insurance, credit cards, and deposits is difficult. Once people are looking for credit card or loan, they visit SmartKompare website, enter their information and find comparison among products.
UCash is a complete mobile financial service by United Commercial Bank Limited (UCBL). UCash launched its services in Bangladesh with the intention to offer banking facilities to the majority of the unbanked population of the country.
- AB bank
AB Bank is the first private sector bank in Bangladesh. AB Bank Internet Banking provides a host of online services. Either at home or work, customers log in to their account and do banking at their own convenience.
Launched in 2015, Projekt.co is a secure platform that gives innovators, artists, and change-makers the opportunity to raise funds from their friends, family and projekt community for a project they want to create. Right after the launch the start-up received quite good response from the community.