Pathao has raised $12 million in a pre-series B funding round as part of Bangladesh largest consumer technology provider strategic shift towards fintech.
This investment takes Pathao total capital raised to upwards of $50 million -- the largest by a pre-series B start-up in Bangladesh.
The round was led by the MENA-based VentureSouq, which has made “platform bets” across the Middle East, Africa & South Asia. Additional investment came from Anchorless Bangladesh, Osiris Group, South Asia Tech, Openspace Ventures and other investors.
Having transformed into a profitable and financially robust entity over the past two years, Pathao now plans to holistically serve its customers with fintech offerings.
“Pathao is far more than a brand, or a suite of products -- it is a lifestyle. Just as it has radically transformed urban transportation, logistics and the gig economy, our efforts in fintech will reshape the financial landscape in Bangladesh” said Fahim Ahmed, Managing Director and CEO of Pathao.
iFarmer and VisionSpring Bangladesh Limited have teamed up to provide eye care services to iFarmer registered farmers. Recently, the contract signing event was held at the Gulshan office of VisionSpring Bangladesh Limited.
VisionSpring Bangladesh Limited works towards ensuring the income, education, safety, and well-being of Bangladeshis living at risk of poverty through eye care and eyewear services.
From iFarmer, Fahad Ifaz, CEO; Reasat Hayder , Head of Input and Marketing; Shah Sultan Mohiuddin, Manager, Brand and Activation; and Mayesha Binte Mahbub, Assistant Manager, Marketing Investment and Digital Activation attended the signing ceremony. VisionSpring was represented by Misha Mahjabeen, Country Director; Umme Sauda, Program Manager; and Ashna Afroze, Resource Mobilization Lead.
Through this agreement, VisionSpring will assist in providing eye examinations and affordable eyewear to iFarmer registered farmers. "The first phase of the collaborative eye care program will enable iFarmer to support their farmers by offering affordable and sustainable eyewear and eyecare services," said Fahad Ifaz, CEO of iFarmer. He also thanked VisionSpring Bangladesh Limited for their partnership in this initiative.
Sena Kalyan Travels & Tours, an initiative of Sena Kalyan Sangstha, has taken a significant step forward in enhancing its customer service. Customers can now make payments online, ensuring a seamless experience.
As part of this advancement, Sena Kalyan Travels & Tours signed an agreement with SSLCOMMERZ, the leading payment gateway provider in Bangladesh, on Monday. Under this agreement, Sena Kalyan Travels & Tours will securely accept online payments from its customers, simplifying the booking and payment process for a more convenient experience.
The signing ceremony took place at SKS Tower, Mohakhali, Dhaka. Present at the ceremony were Raiyan S. Islam, Director of SSLCOMMERZ and Brigadier General Md Salahuddin Ahmed, Director General of Sena Kalyan Travels & Tours.
Also, in attendance from SSLCOMMERZ were S M Raihan Rashid (CEO, SSL Sentinel); Md. Sagir Ahmed (Head of E-Commerce Services); Moutusi Hina Hannan (Assistant Manager) and Farhatul Hasan Novel (Executive). Representing Sena Kalyan Travels & Tours were Major Mohammad Mohsinul Haque Chowdhury (Deputy General Manager) and Bashar Abdullah (Officer in Charge).
At the ceremony, it was mentioned that this partnership marks a significant step in the digital transformation of Sena Kalyan Travels & Tours. The company is expected to offer safer, uninterrupted and more user-friendly services to travelers. Raiyan S. Islam, Director of SSLCOMMERZ, highlighted that SSLCOMMERZ consistently provides cutting-edge payment solutions and continues to work towards a digitally connected Bangladesh.
In response to the devastating flood that affected many places of Bangladesh, employees of DBH Finance PLC came forward to stand beside them and donated their one day salary. The fund was channeled through BRAC Flood Relief Fund and was used to provide reliefs to the distressed people. Company Secretary of DBH Finance, Mr. Jashim Uddin was personally present and participated in the distribution of essential items in the flood affected areas of Feni district.
In addition to that, DBH Finance, the specialist housing finance institution, itself contributed an amount to honorable Chief Advisor Relief and welfare fund. That fund was donated from company CSR budget to stand beside the flood victims. Driven by the sense of humanitarian duty, DBH is pledged bound to stand beside the victims.