10 Leading Fintech Startups in Bangladesh (2023 Edition)
Fintech startups are new businesses that have opened combining financial instruments and applications within a digital platform. These startups have played a key role in digitalizing a country along with its economy. Through these startups financial activities such as banking or investing have become much easier along with getting higher accessibility to information.
This article elaborates on the leading fintech startups in Bangladesh.
1. Bkash
Established in 2010, Bkash is a leading mobile financial service of Bangladesh. It is one of the leading fintech startups in Bangladesh in terms of customers served and volume of transaction.
Through Bkash individuals can make payment, pay bills, deposit money, take out cash, recharge sim balance, and more through their Bkash App on their phones.
2. Nagad
Established in 2019, Nagad is one of the fastest growing mobile financial services of the country and a leading fintech company of the country. Like Bkash, their mobile app also provides services such as make payment, pay bills, deposit money, cash out, donations, and more. But the service costs at Nagad is one of the lowest compared to other mobile financial services.
3. Rocket
Rocket is the mobile banking segment of Dutch Bangla bank. It is one of the pioneering mobile banking services of Bangladesh and one of the leading fintech startups in Bangladesh. It provides banking and financial services, such as cash-in, cash out, merchant payment, utility payment, salary disbursement, foreign remittance, ATM money withdrawal through mobile phone etc.
4. iFarmer
iFarmer is Bangladesh’s leading Agri-fintech startup that intertwines finance and agriculture through enabling farm sponsorships to individuals and connecting them to farmers, and building a platform for investing into agriculture digitally.
5. SureCash
Established in 2010, SureCash is a leading FinTech brand in Bangladesh. They offer services such as utility bill payments, education payments, online payments, money transfers and more. The company currently has more than 700000 customers.
6. Dmoney
Established in 2016, Dmoney is one of the leading fintech startups of Bangladesh. The startup provides mobile wallets for money transfer and payments to customers, for making payments, withdrawing money, and more.
7. PayWell
Established in 2012, PayWell is one of the leading fintech startups of Bangladesh. It specializes in providing an online bill payment platform for consumers. Particularly providing services related to mobile recharge, electricity bills, water bills, gas bills, travel tickets, e-commerce, and more.
8. FarmNet
FarmNet is a leading Agri-fintech startup in Bangladesh. They connect small farmers with their consumers and investors for effective and efficient agricultural production.
Moreover, they offer secured micro investments, with high rates of interest, invested upon highly motivated, fully trained and supported farmers equipped with utmost dedication and the knowledge of advanced farming technologies.
9. Trust Axiata Pay
Trust Axiata Pay or abbreviated as TAP is a mobile financial company established in 2020. It is co-owned by Trust Bank Limited and Axiata Digital Services Sdn Bhd, Malaysia. The company provides mobile payment services, cash withdrawals, bill payments, and more.
10. WeGro
WeGro is an agritech agricultural startup that connects farmers to their investors, with a vision to improve the agricultural supply chain. The company connects farmers with investors, market, quality input and the necessary data. Alternately, it provides investors the opportunity to invest in farms with high return and secured investments.
The financial startups mentioned above have already made significant impact within Bangladesh. Companies like Bkash, iFarmer etc. have transitioned individuals from the traditional means of conducting business to a more digitalized and efficient medium through their platforms. Changing lives for the better.